Gross Negligence Claims Do Not Bar Application of Sole Remedy Provision
The Court of Appeals has held that in an RMBS put-back action, claims of gross negligence cannot overcome the limitations of a PSA’s sole remedy provision.
VRDO-Bond Price Fixing Claims Survive Motion to Dismiss
This post reports on S.D.N.Y. Judge Jesse M. Furman’s recent decision largely denying a motion to dismiss a proposed class-action complaint alleging a conspiracy to fix interest rates on Variable Rate Demand Obligations (VRDO) bonds. Continue reading VRDO-Bond Price Fixing Claims Survive Motion to Dismiss
RMBS Statute of Limitations Decisions
Here are some recent decisions regarding the statute of limitations. Justice Friedman dismissed Ambac’s fraud claim against Countrywide, finding that the suit was time-barred. In particular, she held that Ambac Continue reading RMBS Statute of Limitations Decisions