February 22, 2016
Monday’s Adjudication Roundup
- Goldman Sachs Group Inc. settles for $27.5 million in an investor class action over toxic collateralized debt obligations. A New York federal judge has preliminarily approved the settlement.
- In Chapter 13 Bankruptcy, the plans must prioritize condominium liens, which the district court determined addresses not only payment, but also security, “and therefore doesn’t elevate the collateral of the lien.”
- NY Attorney General, Eric Schneiderman, states that Morgan Stanley will pay $3.2 billion to settle claims of misleading investors about the quality of the mortgage-backed securities it packaged prior to the financial crisis.
- Borrowers have filed suit against Bank of America NA for intentionally and systematically failing to release mortgage liens on their property when they repaid everything, creating affected property titles.
