Bank of America Ensnared in Legal Web Over Ocala

The delisting triggered a default of the notes, meaning they are immediately due. But a few months later, and it's still unclear what will happen to the assets underlying the complex investment vehicle. Due to the cobweb of investment relationships, it's also unclear who owes what to whom. Banks with exposure to its assets have been forced to write down their holdings, and put the matter in the hands of the courts.

-- Written by Lauren Tara LaCapra in New York.

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