Defense of Bank in Breach of Purchase and Sale Contract Dispute

National Bank

Defense against contractual indemnification claims by Residential Funding Company LLC, the successor to a major financial services company, which went bankrupt in 2012, in seeking indemnification against dozens of companies, post-bankruptcy. The case included cutting-edge legal issues such as indemnification, causation and materialization, as well as issues regarding which contract applies, and successor liability. This high-stakes, high-profile case was resolved for client on favorable but confidential terms.

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Philip R. Stein
Practice Group Leader, Trial & Litigation
Kenneth Duvall
Partner & Assistant General Counsel
Adrian K. Felix
Partner
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Experience
Defense of mortgage loan originators against claims brought throughout the country asserting over $500 million in cumulative damages. The cases were initiated by major financial institutions seeking repurchase of or indemnification for large volumes of residential mortgage loans sold before the 2008...
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Representation of homebuilder captive mortgage company in litigation brought by the FDIC, demanding repurchase of or indemnification for mortgage loans sold to IndyMac Bank. The FDIC settled all loans at issue, as well as almost 2,000 other loans allegedly subject to breaches of representations and ...
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Representation of mortgage company in its defense against a $270 million breach of contract and indemnification action. After defeats in similar cases in other federal and state courts, Lehman Brotherssought recourse for new lawsuits in the Southern District of New York. Over 100 companies are being...
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