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 PEOPLE
Philip R. Stein
Practice Group Leader, Litigation
Kenneth Duvall
Partner & Assistant General Counsel
Adrian K. Felix
Partner
Ilana Drescher
Associate
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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...
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 th...
Experience
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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