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TD Bank files Stanford-related lawsuit against Trustmark unit


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TD Bank files Stanford-related lawsuit against Trustmark unit

on April11 filed a Stanford-related lawsuit against Jackson, Miss.-based unit andthree other financial institutions not affiliated with Trustmark, according toa Form 10-Q filed by Trustmark.

Thelawsuit, the third against TNB related to the collapse of Stanford FinancialGroup, was filed in the Superior Court of Justice in Ontario. It wants tospecify the degree to which each defendant is liable in respect of any loss anddamage for which TD Bank is found to be liable in a litigation commencedagainst TD Bank, and contribution and indemnity in respect of any judgment,interest and costs TD Bank is ordered to pay in that litigation brought by theJoint Liquidators of Stanford International Bank Ltd. in the Superior Court ofJustice, Commercial List in Ontario.

TNB has notbeen served in connection with this action to date, according to the May 6filing.

Therelationship of TNB with Stanford Financial Group arose from Trustmark'sacquisition of a Houston-based bank in August 2006. It consisted of correspondent banking andother traditional banking services.

Thecases related toStanford are in their preliminary stages and are being vigorously contested,the filing stated.