TMST, Inc., 8% Senior Notes (TMA.GB)

[Olmsted]

Footnote 4 on p 7:

4 The Trustee also instituted several other adversary proceedings including the following which have been settled: (i) a proceeding against Countrywide Homes Loans, Inc. and Bank of America seeking indemnification under one loan purchase transaction that was settled for a payment to the Debtors by Bank of America of $950,000 (Adv. Pro. 10-00909), (ii) a preference action against Ketchum Communications that was settled for a payment to the Debtors by Ketchum of $161,500 (Adv. Pro. 11-00331) and (iii) a proceeding against Mortgage Cadence that was settled for a payment to the Debtors by Mortgage Cadence of $100,000 (Adv. Pro. 11-00330).

Does anyone know the original scope of the lawsuit settled with BofA for $950k? Epiq 1109 references the case, but there are no documents attached.

Could this be a reference to it:

1 With respect to at least one loan on which the Trust has no current loss, Countrywide breached representations and warranties about the loan and the Trust initially suffered a loss. After Thornburg sued Countrywide, Countrywide settled the claim and directly reimbursed the Trust (not Thornburg) for the excess of the repurchase price over the net proceeds of liquidation.

page 5: http://dm.epiq11.com/TMI/Document/GetDocument/1379157

I am attempting to ballpark a settlement range on current litigation from litigation already settled. On the one hand, $950k recovery on one loan is a substantial recovery. On the other hand, it probably does not provide a direct analogy to ongoing litigation with Countrywide since the loan in question may have been more egregiously in violation of R&W (since it was singled out already). It certainly provides no analogy at all to the collateral call cases - but the SAF financial case might.

I can't tell what damages are sought in the Countrywide case. Anybody?