Bank of America Says Bankruptcy Court Lacks ‘Authority’ on Suit

Bank of America Corp. (BAC) said bankruptcy court has “no authority” to decide a lawsuit against it and Countrywide Home Loans Inc. filed by defunct Thornburg Mortgage, now called TMST Inc. Explaining its effort to take the case to district court, the bank said in a court filing that half of the claims brought against it are state common-law claims, not bankruptcy claims.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net

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