What a difference a day makes. On Tuesday, it looked as though the trustee for American Business Financial Services was facing the potential of an added defendant at his trial against several large financial institutions when those institutions filed a motion to join Blank Rome to the defendant roster.
But on Wednesday, word leaked that those financial institution defendants have reached a $100 million settlement agreement with the failed subprime lender’s trustee, George L. Miller, in advance of the Oct. 26 trial start date in Philadelphia Common Pleas Court.
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