FDIC’s $388M MBS Suit Brought On Behalf Of Colonial Bank Survives Motion to Dismiss

On September 27, Judge Louis L. Stanton of the Southern District of New York denied a motion by JPMorgan, Citigroup and several other banks to dismiss a lawsuit filed by the FDIC, as receiver for Colonial Bank, involving $388 million in RMBS….
By: Orrick – Structured Finance Group