On the L.A. lawsuit

In the public, there is currently a discussion on the lawsuit due to foreclosures in Los Angeles. We take critical comments in this context seriously. We would therefore like to present our position once again and explain the facts of the matter in more detail. We are looking forward to receiving additional comments.

We are of the opinion that the Los Angeles City Attorney’s Office has filed a complaint against the wrong party, as Deutsche Bank, in its capacity as trustee, is not responsible for the foreclosures. Contractually responsible for maintaining the foreclosed properties as well as the measures relating to the affected tenants are the so-called loan servicers. This situation was clearly presented to the Los Angeles City Attorney’s Office several times. Furthermore, for over a year we have repeatedly offered our assistance in contacting the loan servicers and appealing to them. However, the City Attorney’s Office has rejected our assistance.

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Last Update: 25.5.2011
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