The $8.5 billion settlement reached with Bank of America gave mortgage-bond investors more than twice what they would have recovered through litigation and was an easy decision, an attorney for the trustee who negotiated the deal said.
Matthew Ingber of Mayer Brown in New York, who represented the trustee, Bank of New York Mellon, yesterday asked New York State Supreme Court Justice Barbara Kapnick in Manhattan to approve the settlement during closing arguments of a hearing on the agreement.
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