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By acquiring Countrywide’s assets, Bank of America did not become liable for its liabilities
- Chadbourne & Parke LLP
- -
- USA
- -
- June 20 2011
In a recent decision underscoring the significance of choice of law in determining successor liability, a California federal district court dismissed a purported class action against Bank of America (“BofA”), holding that, under Delaware law, by acquiring substantially all of Countrywide’s assets, BofA did not assume Countrywide’s liabilities
