Ambac Assurance Corp. v. Countrywide Home Loans, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Richter, J.R
In this action, Ambac, a financial guaranty insurer, seeks to hold Countrywide liable in connection with 17 residential mortgage-backed securitizations sponsored by Countrywide. 1 Upon Countrywide’s application, Ambac issued unconditional and irrevocable insurance policies for the transactions, guaranteeing the payments of principal and interest to the se-curitizations’ investors. In its complaint, Ambac alleges, inter alia, that (i) Countrywide breached various contractual representations and warranties relating to the loans and its business practices; and…
2Cases cited20 opinions
- Hooper Associates Ltd. v. AGS Computers, Inc.New York Court of Appeals · 1989
- Eurycleia Partners, LP v. Seward & Kissel, LLPNew York Court of Appeals · 2009
- Danann Realty Corp. v. HarrisNew York Court of Appeals · 1959
- Doctor Fred L. Pasternack v. Laboratory Corporation of America HoldingsNew York Court of Appeals · 2016
- Laub v. FaesselAppellate Division of the Supreme Court of the State of New York · 2002
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3Cited by17 opinions
- Ambac Assur. Corp. v. Countrywide Home Loans, Inc.New York Court of Appeals · 2018
- Waknin v. Liberty Ins. Corp.Appellate Division of the Supreme Court of the State of New York · 2020
- Dille v. Zoelle LLCAppellate Division of the Supreme Court of the State of New York · 2023
- Dille v. Zoelle LLCAppellate Division of the Supreme Court of the State of New York · 2023
- Smith v. RyderNew York Supreme Court, Albany County · 2024
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