Gilmor-DBNTC Settlement

March 6, 2013

WBSV is pleased to announce a $1,000,000 class action settlement in Gilmor, et al. v. Preferred Credit Corporation, et al., Case No. 4:10-cv-00189-ODS.


Deutsche Bank National Trust Company, formerly known as Bankers Trust Company of California, N.A. (“DBNTC”) has agreed to pay $1,000,000 to settle the claims of 227 class members who obtained 130 loans that were purchased by, assigned or conveyed to, or otherwise owned and/or held by or serviced by DBNTC. Class Members who do not opt out of the Settlement will be entitled to a substantial settlement payment under the Settlement. The estimated settlement payments range from a low of $924 to a high of $12,343, with an average of $4,078.


Class Members can see what we currently estimate the amount of their settlement payment to be by accessing the Proposed Distribution Schedule.  To access the Proposed Distribution Schedule for your settlement benefit, click here.


March 6, 2013:  The District Court for the Western District of Missouri has entered its order giving final approval to the Settlement Agreement reached with Deutsche Bank National Trust Company, formerly known as Bankers Trust Company of California, N.A. (“DBNTC”), individually and in its capacities as indenture trustee of the  Impac Secured Assets CMN Trust Series 1998-1, Impac CMB Trust Series 1999-2, Impac CMB Trust Series 2000-2, Impac CMB Trust Series 2001-4, Impac CMB Trust Series 2002-1, Impac CMB Trust Series 2003-5, and Impac Real Estate Asset Trust Series 2006-SD1 in Michael P. and Shellie Gilmor, et al v. Preferred Credit Corporation, et al. The order will become final on April 6, 2013, and we anticipate sending distribution checks to DBNTC Trusts Settlement Class Members beginning sometime in late April or early May, 2013.


Links to Settlement Documents:



Links to Other Pleadings, Orders, Reports, and Documents:

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