ABS Updates are brief notes on developing events relating to structured finance litigation
On September 17, 2019, the First Department issued a decision in Ambac Assur. Corp. v. Countrywide Home Loans Inc., 2019 NY Slip Op. 06570 [175 AD3d 1156], approving sampling in monoline cases. Continue reading First Department Approves Sampling in Monoline Cases
On September 17, 2019, the First Department issued a decision in HSBC Bank USA v. Merrill Lynch Mtge. Lending, Inc., 2019 NY Slip Op. 06567 [175 AD3d 1149], holding that a PSA’s sole remedy provision allied only to claims for breach of representations and warranties. Continue reading Sole Remedy Provision Applied Only to Breach of Representation and Warranty Claims
The First Department unanimously affirmed Justice Scarpulla’s January 9, 2019, partial summary judgment order in HEMT 2006-5 et al vs. DLJ MORTGAGE CAPITAL, INC., et al, Index No. 653787/2012. Continue reading New First Department Put-Back Action Decision and New Settlement
Here are the complaints in two recent put-back actions (here and here) and a letter to the court in Royal Park v. HSBC indicating that the parties have settled their Continue reading New Put-Back Actions and Another Royal Park Settlement
