Retirement Board of the Policemen’s Annuity and Benefit Fund of the City of Chicago v The Bank of New York Mellon

SIFMA submitted an Amicus “Friend of the Court” Brief

Court:  

U.S. Court of Appeals

(Second Circuit)

Amicus Issues:  

Whether residential mortgage-backed securities certificates issued by certain New York common law trusts are debt, not equity, and thus, are covered by the Trust Indenture Act, which generally applies to debt securities.

Whether plaintiffs have standing to assert claims on behalf of all purchasers of securitization trusts, including those which they did not purchase, relying on the decision in NECA-IBEW v. Goldman Sachs, 693 F.3d 145 (2d Cir. 2012).

Counsel of Record:   

Cadwalader, Wickersham & Taft LLP

Martin L. Seidel

Nathan M. Bull

Blake A. Gansborg

Other Amici:   

The Clearing House Association L.L.C.