Bank of America might have a hill to climb in its dispute with Heller Ehrman’s creditors after a bankruptcy judge said Thursday he “can’t make any sense” of the bank’s legal defense theories.
Heller’s creditors have sued the bank to make it return about $58 million paid to it in the 90 days before the firm’s Dec. 28 bankruptcy filing, arguing it was not secured. Bank of America terminated its security interest in 2007 in a Uniform Commercial Code filing the bank has since called a “clerical error.”
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