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Financial institution of America’s acquisition of Countrywide for $2.5 billion in July 2008 got here at a steep price, because the financial institution has since confronted substantial authorized and monetary burdens associated to Countrywide’s practices.
As UBS seeks to recuperate its authorized prices, the case might doubtlessly open up additional disputes over the obligations and liabilities related to crisis-era monetary merchandise and acquisitions.
The lawsuit, UBS Americas et al v. Countrywide House Loans Inc et al, is at the moment being reviewed within the New York State Supreme Court docket, New York County.
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