WILMINGTON, Del. AP - Bank of New York Mellon and mortgage lender Countrywide Financial agreed Friday to settle a Delaware Chancery Court lawsuit involving Countrywide bondholders.As the trustee of holders of some $2 billion in Countrywide notes, Bank of New York Mellon claimed in the lawsuit that the bondholders should have received the option to keep the notes or cash them in when Bank of America acquired Countrywide in July.
October 10, 2008 at 12:00 AM
1 minute read
WILMINGTON, Del. AP – Bank of New York Mellon and mortgage lender Countrywide Financial agreed Friday to settle a Delaware Chancery Court lawsuit involving Countrywide bondholders.
As the trustee of holders of some $2 billion in Countrywide notes, Bank of New York Mellon claimed in the lawsuit that the bondholders should have received the option to keep the notes or cash them in when Bank of America acquired Countrywide in July.
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