The Structured Finance Industry Group submitted a proposed amicus brief to the SDNY Bankruptcy Court in which it asserted that the alleged debtor is not a typical chapter 11 debtor, but rather a non-recourse securitization vehicle that should be liquidated by its terms.
U.S. District Court for the Northern District of Texas Dallas Division Chief Judge Barbara M.G. Lynn denied a motion for summary judgment by the Chamber of Commerce, et. al. to challenge and vacate the heightened fiduciary standards mandated by the DOL fiduciary rule.