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SEP 13, 2013 - Washington Business Journal

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Too soon to rule on Richmond's use of eminent domain, judge says

A federal judge in San Francisco said Thursday it’s too soon to rule on a suit by Wells Fargo and other banks and investors that seeks to block Richmond from using eminent domain to buy underwater mortgages. Since Richmond has threatened but not yet acted to begin using eminent domain, U.S. District Court judge Charles Breyer said the suit and a request for an injunction had been filed prematurely. Richmond City Council has formed a partnership with investor Mortgage Resolution Partners to explore…

Tags: Too soon to rule on Richmond's use of eminent domain, judge says,  Wells Fargo Latest News