Litigation
Sep. 19, 2013
Judges dismisses banks' lawsuit against Richmond
A federal judge Monday dismissed a lawsuit brought by a group of banks against the city of Richmond for its preliminary moves to seize underwater mortgages from the lenders through eminent domain.
By Hadley Robinson
Daily Journal Staff Writer
A federal judge Monday dismissed a lawsuit brought by a group of banks against the city of Richmond for its preliminary moves to seize underwater mortgages from the lenders through eminent domain. In a hearing last week, U.S. District Judge Charles R. Breyer denied a requested preliminary injunction because the city has not yet approved a resolution to approve taking over 364 mortgages in the California city and said he could not...
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