Legal News

Judge Calls Bank “Dracula” and Bank’s Law Firm, “Renfield,” Dracula’s Servant
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

On Thursday, King’s County Supreme Court Justice Arthur Schack made scathing comments about how the IndyMac Federal Bank could have initiated a foreclosure on a homeowner, three weeks after the date the bank had legally ceased to exist. The judge said that for IndyMac to have locus standi to foreclose on homeowner Mendel Meisels’ property “would be the legal equivalent of a vampire – the “living dead.””

After comparing the bank to Dracula, the legendary vampire that rose from its coffin to feed on victims, Shack compared the law firm of Fein, Such & Crane to Dracula’s loyal servant Renfield.

The judge said that the law firm, “similar to Renfield, throughout its papers and at oral argument demonstrated its loyalty by not betraying its client and Master, the ‘living dead’ IndyMac Fed.” The law firm can face sanctions for “engaging in frivolous conduct” by bringing a case on behalf of a client that had legally ceased to exist.

  
What
Where


IndyMac was seized by federal authorities in July 2008, and in March 2009, the Federal Deposit Insurance Corp sold IndyMac to OneWest bank. However, in April 2009, lawyers at Fein Such, happily filed a foreclosure case against Meisels who had taken out a mortgage from IndyMac in 2005.

Shack said following a 2009 appellate decision, IndyMac would have legally ceased to exist by the time of the foreclosure and could not be named as a party in the lawsuit. Though Schack dismissed the lawsuit, he said the “correct owner” of Meisels’ mortgage may be allowed to bring a new claim allowing the lawsuit to be resurrected.

While the lawyer handling the case on behalf of Fein Such could not be reached, Derrick Hanna, the lawyer for the homeowner said “proper documentation in compliance with current laws should be the only documents filed in court … The banks have rights, but the consumer homeowner does as well, and the law protects them equally.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Associate Attorney

USA-SC-Columbia

Columbia office is seeking a commercial litigation attorney with 2-4 years of experience.

Apply Now

Attorney with 3-7 years of commercial/complex litigation experience

USA-CA-Cerritos

Cerritos office of our client seeks attorney with 3-7 years of commercial and complex litigation exp...

Apply Now

Insurance Coverage Associate Attorney

USA-IL-Chicago

Chicago office of our client seeks associate attorney with insurance coverage experience. The candid...

Apply Now

Patent Agent with 1 year of electrical engineering experience

USA-CA-San Francisco

San Francisco office of our client seeks entry level patent agent with 1 year of experience. The can...

Apply Now

RELEVANT JOBS

Corporate / Commercial Attorney | Lebanon, NH

USA-NH-Lebanon

Downs Rachlin Martin PLLC seeks an experienced corporate / commercial attorney to join its Lebanon o...

Apply now

Executive Assistant / Office Administrator

USA-TX-Rosenberg

If you have administrative support experience in the legal industry, or even paralegal expertise,...

Apply now

Associate - Mid-Level - GL Group

USA-NY-Valhalla

Defense firm seeking mid-level associate for Westchester office to fill General Liability position. ...

Apply now

Mortgage Compliance Analyst

USA-MN-Minnetonka

Job Description: Rubicon Mortgage Advisors LLC, a locally-owned, boutique mortgage lender is seeki...

Apply now

SEARCH IN ARCHIVE

To Top