ARNOLD F. SOCK, Attorney At Law Opines On: Royal Park Faces $1,000 a Day Sanction In Residentiial Mortgage Backed Securities Court Fight
Royal Park Investments SA/NV will face sanctions of $1,000 a day beginning next week if certain material needed to comply with a discovery order in its residential mortgage-backed securities suit (U.S. District Court for the Southern District of New Yourk Royal Park Investments SA/NV v. Deutsche Bank National Trust Company 1:14-cv-04394) against Deutsche Bank National Trust Co. isn’t produced, a New York federal magistrate judge said Tuesday.
U.S. Magistrate Judge Barbara Moses gave Royal Park through May 21 to produce sworn statements or testimony regarding efforts to locate material held by BNP Paribas Fortis, the Belgian bank whose claims against RMBS trustee DBNTC are now being pursued...
Discovery orders being court orders must be complied with by the litigants unless the have proper reason not to, in which they must appeal to the court.
Opinion by ARNOLD F. SOCK, Attorney at Law