Mayer Brown couldn't persuade a federal judge to reconsider his decision allowing a purported class action to proceed against Bank of New York Mellon over its role as trustee to Countrywide Financial. But the judge allowed an immediate appeal, putting a key question of trustee liability for soured mortgage-backed securities before the Second Circuit.
Fight over MBS Trustee Liability Heads to the Second Circuit
The Litigation Daily
February 15, 2013
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