Magistrate Judge Allows Title Company To Withdraw Admissions In FDIC Action

Magistrate Judge Allows Title Company To Withdraw Admissions In FDIC Action

MIAMI - A federal magistrate judge in Florida on Oct. 29 granted B&A Title Services Corp.'s motion to withdraw its admissions in a suit in which the Federal Deposit Insurance Corp., as the receiver for the failed Amtrust Bank, alleges that B&A violated closing instructions on a loan, finding that B&A satisfied a two-prong test used for allowing the withdrawal of admissions (Federal Deposit Insurance Corp. v. B&A Title Services Corp., No.12-24258, S.D. Fla.; 2013 U.S. Dist. LEXIS 154890).

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