Bank of America at center stage in U.S. top court bankruptcy case

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Bank of America at center stage in U.S. top court bankruptcy case

Bank of America at center stage in U.S. top court bankruptcy case

Yahoo-

As the U.S. Supreme Court on Wednesday considered the case of a Massachusetts homeowner battling his mortgage lender over a bankruptcy plan, several justices focused their attention on his unlikely ally: Bank of America Corp.

Bank of America, one of the largest U.S. banks, filed a friend-of-the-court brief in support of Louis Bullard, who owes community bank Blue Hills Bancorp Inc $387,000 for the mortgage on a property in the town of Randolph.

During a one-hour oral argument on the technical issue of whether Bullard can appeal a bankruptcy judge’s rejection of his proposed bankruptcy plan, some justices wondered why Bank of America, as a major creditor, would support a debtor.

[YAHOO]

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