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Article

Orrick, Herrington & Sutcliffe LLP | USA | 6 Sep 2011

U.S. bank sues Bank of America over $1.75 billion Countrywide RMBS deal

On August 29, 2011, U.S. Bank National Association ("U.S. Bank") filed a lawsuit against Bank of America and certain affiliates, as successor to Countrywide Financial Corp., in the Supreme Court for the State of New York. U.S. Bank, as Trustee of the RMBS transaction, filed this suit at the direction of trust investors, in order to force Bank of America to repurchase each of the securitized loans underlying the trust.

Article

Orrick, Herrington & Sutcliffe LLP | USA | 22 Aug 2011

Knights of Columbus seek damages from Bank of New York Mellon

On August 16, 2011, the Knights of Columbus amended their complaint against Bank of New York Mellon in New York state court to seek damages from BNY Mellon as trustee of 18 RMBS trusts serviced by Countrywide Financial Corp.

Article

Orrick, Herrington & Sutcliffe LLP | USA | 8 Aug 2011

New York Attorney General and other parties move to intervene in the Bank of America and Bank of New York Mellon settlement

On August 4, 2011, New York Attorney General Eric T. Schneiderman moved to intervene in the June 29, 2011 settlement between Bank of America and Bank of New York Mellon ("BNYM"), the trustee for 530 trusts created by Countrywide entities.

Article

Orrick, Herrington & Sutcliffe LLP | USA | 28 Feb 2011

Investor group sues Countrywide to enforce contractual buy-back provision

On February 23, 2011, a group of holders of RMBS certificates represented by Plaintiffs' lawyer David Grais filed a breach of contract claim against Countrywide Home Loans (now part of Bank of America) in New York State court, alleging that they were defrauded into purchasing over $1 billion in RMBS.

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