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Home » Store » Taxable » Fleet Asks Delaware Court to Block Advanta, Chase Deal

Fleet Asks Delaware Court to Block Advanta, Chase Deal

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FleetBoston has filed a lawsuit in a state court, hoping to block the sale of Advanta’s mortgage unit to banking giant Chase Mortgage. “Given Advanta’s precarious financial condition, if Advanta sells its mortgage banking business, its ability to satisfy any judgment that Fleet ultimately obtains will be severely impaired and possibly eliminated,” attorneys for Fleet argued in court documents, filed this month in the Delaware Chancery Court.
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