HSBC Bank v. Nomura Credit & Capital
Published on:
February 2, 2017
Committee:
SIFMA has submitted an Amicus “Friend of the Court” Brief.
Court:
New York Court of Appeals
Amicus Issue:
Whether a trustee may circumvent a sole remedy provision within a pooling and services agreement – which provides that the sole remedy for a breach of the mortgage representations is cure or repurchase of the loans – by also bringing claims for damages for breach of the No Untrue Statement Provision, based on the same allegations of misstatements as to the characteristics of the loans.
Counsel of Record:
Paul Hastings LLP
Shahzeb Lari
Timothy D. Reynolds
Other Amici:
None.