Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER
SDNY tweets
MRL on Patreon

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

Deutsche Bank Fends Off Another Predatory Loan Trust Case From NCUA Citing Waterfall Windfall

By Matthew Russell Lee, Patreon, Thread III
The Source - XXL - The Root - etc

SDNY COURTHOUSE, Oct 4 – Deutsche Bank is being sued, again, by the National Credit Union Administration Board, for its behavior as a trustee on pools of mortgages, many of them historically predatory. But on October 7 SDNY Judge Sidney Stein seemed predisposed to Deutsche Bank's argument, that it was free as its lawyer said to drink from the "waterfall" of payments without being successfully sued, at least not by NCUA.

 Deutsche Bank's lawyers - and they have many of them - this time from Morgan Lewis & Bockius, cited pro-Deutsche Bank or pro predatory lender decisions by other SDNY judges; by Judge Scheinlein (NCUA v. HSBC), and by Judge Caproni sitting by designation on the Second Circuit.

  Judge Stein appeared to show his hand that he will side with Deutsche Bank, and acknowledged "I am not hiding the ball," but said he will do it in writing. Inner City Press will continue for follow this case; it's NCUA v. Deutsche Bank National Trust Company, 14-cv-8919 (SHS).

From October 4, also on Deutsche Bank: It's not over until it's over. The adage from baseball, and opera, was on display on October 4 in an oral argument between lawyers for Deutshce Bank Mexico Holdings S.a.r.l and Accendo Banco, S.A. before Judge Alvin K. Hellerstein of the U.S. District Court for the Southern District of New York.

    Accendo Banco had obtained a Mexican court injuction against Deutsche Bank selling its Mexican assets to anyone else; there is an ICC emergency arbitration set for argument next Tuesday with decision scheduled for October 14.

    Judge Hellerstein after hearing arguments from Simpson Thacher's Jonathan K. Youngblood for Deutshce Bank, then Quinn Emanuel's Marc Greenwald for Accendo, orally denied Deutsche Bank's petition to undo the Mexican court's injunction, saying it wasn't his place to get involved in another sovereign country's law.   But then after some apparently post-decision arguments from Deutsche Bank lawyer Youngblood, Judge Hellerstein abruptly left the bench and went into his robing room with his law clerks.   Emerging fifteen minutes later, Judge Hellerstein said he would reserve decision and issue a written ruling later. The he asked the parties if they both wanted him to not act until after the arbitrator does.

   Youngblood consulted with his client, four Deutshce Bank officials in the gallery otherwise empty but for Inner City Press, then returned with essentially an offer for Accendo or its counsel.

    Judge Hellerstein said that was a private conversation in which he did not want to be involved. He said he will rule in the normal course. Inner City Press will continue to cover this case. It is Deutsche Bank Mexico Holdings S.a.r.l. et al. v. and Accendo Banco, S.A., 19-cv-08692 (Hellerstein).


Feedback: Editorial [at]

SDNY Press Room 480, NY NY 10007

Box 20047, Dag Hammarskjold Station NY NY 10017

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2019 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] for