Ace Securities v DB Structured Products
Published on:
September 26, 2013
SIFMA submitted an Amicus “Friend of the Court” Brief
Court:
New York Supreme Court
Appellate Division, First Department
Amicus Issues:
Whether New York’s six-year
statute of limitations period for breach of contract cases involving allegedly
misleading offering agreements for the sale of residential mortgage-backed
securities (RMBS) begins to run on the transaction’s closing date, as the banks
assert, or whether it begins to run only after the bank refuses to repurchase
the loans, as the plaintiff investors assert.
Counsel of Record:
Wachtell, Lipton, Rosen
& Katz
George T. Conway III
Jeffrey D. Hoschander
Justin V. Rodriguez
Caitlin A. Donovan
Other Amici:
None.