OHC Liquidation Trust v. Credit Suisse (In re Oakwood Homes Corp.)

OPINION

SLOVITER, Circuit Judge.

This appeal challenges the District Court’s grant of partial summary judgment based upon the New York in pari delicto doctrine. Because the parties have settled all remaining issues, the matter is ripe for appeal. For the reasons stated below, we will affirm.

I

Oakwood Homes Corporation (“Oak-wood”) produced and sold manufactured homes, the purchasers of which were often low-income individuals with poor credit. In the 1990s, Oakwood expanded its business to include mortgage financing. Oak-wood retained Merrill Lynch to securitize the payment streams on the…