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.

Related Topics
Related Practices
RELATED PEOPLE
Philip R. Stein

Philip R. Stein

Partner, Litigation Practice Group Leader
Shalia M. Sakona

Shalia M. Sakona

Associate
Desiree Fernandez

Desiree Fernandez

Associate
Kenneth Duvall

Kenneth Duvall

Partner
Adrian K. Felix

Adrian K. Felix

Partner
Ilana Drescher

Ilana Drescher

Associate
MORE EXPERIENCE
Experience
Representation of B piece and special servicer clients, handling in excess of $22 billion in new securitizations in 2013-14.
Experience

Defense of ten loan originators and sellers in the RFC and ResCap Liquidating Trust Litigation. More than eighty suits comprising the consolidated action were brought by the successor to one of the largest private purchasers of mortgage loans, seeking repurchase and indemnification arising out of...

Experience
Representation of one of the country's largest special servicers regarding its consent to transfer all beneficial ownership interests in several borrowers to a company that became a publicly traded REIT pursuant to a $400 million IPO. The REIT owns over 1,000 properties leased to over 150 single pro...
VIEW MORE EXPERIENCE