ABS Updates are brief notes on developing events relating to structured finance litigation
U.S. Bank filed a TIP in Ramsey County, MN regarding a settlement of a put-back action relating to FFMER 2007-3. Here are the notice, settlement agreement and order setting a Zoom hearing for March 21. Anyone wanting to respond to the petition must do so no later than March 16. Continue reading FFMER 2007-3 TIP
On Tuesday, April 19, 2022, the Court of Appeals will hear argument in ACE Securities v DB Structured Prods., (No. 34), APL-2020-126. Continue reading Upcoming Court of Appeals Argument of Interest to RMBS Investors
This has been a busy week in ABS news. The Court of Appeals heard oral argument in U.S. Bank v. DLJ on Tuesday. I will post links to the video Continue reading A Busy Week in the ABS World
On February 8, 2022, the Court of Appeals will hear reargument in U.S. Bank National Association v DLJ, APL-2020-18. The case issue statement describes the issues as: Contracts–Breach or Performance Continue reading Court of Appeals to Hear Reargument in U.S. Bank v. DLJ
Relying on the Second Circuit’s October 2021 decision in Phoenix Light v. U.S. Bank, which held that Phoenix Light lacked standing to sue U.S. Bank, the S.D.N.Y. dismissed Phoenix Light’s Continue reading Phoenix Light v. BoNYM Dismissed for Lack of Standing
NCUA and HSBC have agreed to settle NCUA’s trustee claims against HSBC.
Here are two recently-filed TIP/Article 77 proceedings:Deutsche Bank has filed a trust instruction proceeding in Orange County, CA regarding the termination of seven INDX trusts: 2004-AR8, 2004-AR14, 2005-AR6, 2005-AR10, 2005-AR18, Continue reading TIPs and a Trustee Decision
Maclean Amlalo of the Oakleaf Group recently published an analysis for a recent trust instruction proceeding brought by Deutsche Bank regarding optional terminations.
Maclean Amlalo of the Oakleaf Group recently published an analysis of trust termination underpayments.
Christine Brunie of the Oakleaf Group recently published a paper on LIBOR transition.
