Legal Opinion
Ambac Assurance Corp. v. U.S. Bank Nat'l Ass'n
District Court, S.D. Illinois
Decided June 29, 2018No. 17cv2614PublishedCited by 18 opinions
1Opinion of the Court
WILLIAM H. PAULEY III, Senior United States District Judge:
Ambac Assurance Corporation ("Ambac") filed this action to recover damages arising from U.S. Bank National Association's ("U.S. Bank") alleged failure to satisfy its contractual and fiduciary duties as trustee for five residential mortgage-backed securities ("RMBS") trusts insured that Ambac insured. U.S. Bank moves to stay this action under the Colorado River doctrine based on two sets of pending state court actions. In the alternative, it seeks to dismiss Ambac's Streit Act claims, breach of fiduciary duty claims, and any breach of…
2Cases cited60 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Moses H. Cone Memorial Hospital v. Mercury Construction Corp.Supreme Court of the United States · 1983
- Colorado River Water Conservation District v. United StatesSupreme Court of the United States · 1976
- Landis v. North American Co.Supreme Court of the United States · 1936
- Clark-Fitzpatrick, Inc. v. Long Island Rail RoadNew York Court of Appeals · 1987
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3Cited by18 opinions
- Conti v. Fid. Bank (In re NC & VA Warranty Co.)United States Bankruptcy Court, M.D. North Carolina · 2018
- Ambac Assurance Corporation v. US Bank National AssociationDistrict Court, S.D. New York · 2022
- Arista Coffee Inc. v. CasaleDistrict Court, E.D. New York · 2020
- Atwal, MD PC v. ECL Group LLCDistrict Court, W.D. New York · 2023
- Basso v. New York UniversityDistrict Court, S.D. New York · 2020
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