Trustee Litigation – Breaking News
First case to go to trial and decided on 8/4/2017
The Western & Southern Life Insurance Company et al v. The Bank of New York Mellon, Case A1302490, in the Hamilton County, Ohio Court, Common Pleas Division (filed 4/4/2013).
READ THE ATTACHED LETTER FROM JUDGE STEVEN E. MARTIN, COURT OF COMMON PLEAS, HAMILTON COUNTY OHIO
Also, Blackrock v. HSBC (1:14-cv-09366), counsel for HSBC writes Judge Schofield, US District Court SDNY, bringing this decision to the Court’s attention (attached).
Judge sides with Bank of New York Mellon
the lawsuit is “full of holes” and relied on a “grossly inappropriate” way of calculating damages.
“If the plaintiffs wanted the trustee’s duties to be such that they could blame the trustee for a downturn in the economy and thus their losses on these economically sensitive investments, they should have negotiated that into the PSAs somehow”
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