Magistrate Judge Denies Sanctions Request For Bank's Untimely Litigation Hold

Magistrate Judge Denies Sanctions Request For Bank's Untimely Litigation Hold

NEW YORK - A federal magistrate judge in New York on Oct. 24 refused to sanction a trustee bank over its failure to implement a litigation hold in a timely fashion, ruling that while the failure to do so was negligent, the bank presented sufficient evidence showing that no relevant information was destroyed or lost (Mastr Adjustable Rate Mortgage Trust 2006-0A2, et al. v. UBS Real Estate Securities Inc., No. 12 Civ. 7322, S.D. N.Y.; 2013 U.S. Dist. LEXIS 152441).

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