Court:
New York Court of Appeals
Amicus Issue:
Whether a plaintiff 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 alleging that the defendant willfully or with gross negligence included numerous defective loans in the pool and failed to repurchase such loans on demand.
Counsel of Record:
Hughes Hubbard & Reed LLP
Shahzeb Lari
Other Amici:
None.
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