In Re Commercial Money Center, Equip. Lease Litig.

MEMORANDUM AND ORDER

KATHLEEN McDONALD O’MALLEY, District Judge.

The dispute in these actions centers around the Sureties’ liability on various surety bonds issued in connection with certain transactions between the Banks 1 and Commercial Money Center, Inc. (“CMC”). CMC’s business purportedly involved the leasing of equipment and vehicles to numerous lessees in exchange for lease payments. CMC then pooled the leases and sold them to institutional investors. Apparently, the majority of CMC’s leasing business was a sham, and the Banks claim millions of dollars in losses from these transactions.…