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Basis PAC-Rim Opportunity Fund (Master) v. TCW Asset Management Co.

Appellate Division of the Supreme Court of the State of New York

Decided March 2, 2017No. 654033/12 2137PublishedCited by 12 opinions

1Opinion of the Court

OPINION OF THE COURT

Kapnick, J.

Plaintiffs Basis PAC-Rim Opportunity Fund (Master) and Basis Yield Alpha Fund (Master) (together Basis) are two Australian-based Cayman Islands hedge funds. Defendant TCW Asset Management Company (TCW) is an investment advisor that served as the collateral manager for Dutch Hill II (Dutch Hill), a $400 million collateralized debt obligation (CDO) investment. Dutch Hill was created as an investment vehicle used for the purpose of taking a net long position on extremely risky Residential Mortgage-Backed Securities (RMBS). Nonparty Deutsche Bank was the investment…

2Cases cited5 opinions

  1. Loreley Financing (Jersey) No. 3 Ltd. v. Wells Fargo Securities, LLCCourt of Appeals for the Second Circuit · 2015
  2. First Nationwide Bank v. Gelt Funding Corp.Court of Appeals for the Second Circuit · 1994
  3. Gaidon v. Guardian Life Insurance Co. of AmericaNew York Court of Appeals · 1999
  4. Lentell v. Merrill Lynch & Co. Inc.Court of Appeals for the Second Circuit · 2005
  5. Laub v. FaesselAppellate Division of the Supreme Court of the State of New York · 2002

3Cited by12 opinions

  1. Ambac Assurance Corp. v. Countrywide Home Loans, Inc.Appellate Division of the Supreme Court of the State of New York · 2017
  2. Pope Invs. II LLC v. Belmont Partners, LLCAppellate Division of the Supreme Court of the State of New York · 2022
  3. Loreley Fin. (Jersey) No. 28, Ltd. v. Merrill Lynch, Pierce, Fenner & Smith Inc.Appellate Division of the Supreme Court of the State of New York · 2021
  4. Loreley Fin. (Jersey) No. 28, Ltd. v. Merrill Lynch, Pierce, Fenner & Smith Inc.Appellate Division of the Supreme Court of the State of New York · 2021
  5. Artemus USA LLC v. Paul Kasmin Gallery, Inc.Appellate Division of the Supreme Court of the State of New York · 2019

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