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Thursday, Sep 26
BofA Article 77 hearing adjourned until mid-November
- Those hoping for an imminent resolution to Bank of America's (BAC -1.1%) $8.5B MBS settlement - or even for a complete record of the Article 77 hearing in order to handicap the outcome - will have to wait. Judge Kapnick has adjourned the hearing until November 14, at which there will be another two days of testimony followed by another couple of days for each side's summation.
- Attorneys for AIG and the other "objectors" have one more witness for the stand, and the settlement supporters may, or may not call rebuttal witnesses.
- The "objectors" also have made a motion for additional discovery based on new evidence coming to light during the trial, but the judge hasn't yet ruled on this.