Legal Opinion
ACE Securities Corp. v. DB Structured Products, Inc.
New York Supreme Court
Decided May 13, 2013PublishedCited by 15 opinions
1Opinion of the Court
OPINION OF THE COURT
Shirley Werner Kornreich, J.
Defendant DB Structured Products, Inc. (DBSP) moves to dismiss the complaint pursuant to CPLR 3211 (a) (1), (3), (7), and (8). Defendant’s motion is denied for the reasons that follow.
I. Factual Background and Procedural History
This case concerns DBSP’s alleged breach of its contractual obligation to repurchase certain nonconforming loans that were pooled, deposited into a trust, securitized, and sold to investors. Since this action arises from contractual obligations under a trust with a “no-action clause,” the trustee, HSBC Bank USA, National…
2Cases cited19 opinions
- Leon v. MartinezNew York Court of Appeals · 1994
- Guggenheimer v. GinzburgNew York Court of Appeals · 1977
- Goshen v. Mutual Life InsuranceNew York Court of Appeals · 2002
- Ely-Cruikshank Co. v. Bank of MontrealNew York Court of Appeals · 1993
- Cron v. Hargro Fabrics, Inc.New York Court of Appeals · 1998
14 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- ACE Securities Corp. v. DB Structured Products, Inc.New York Court of Appeals · 2015
- Nomura Home Equity Loan, Inc., Series 2006-FM2 v. Nomura Credit & Capital, Inc.Appellate Division of the Supreme Court of the State of New York · 2015
- Ace Securities Corp. Home Equity Loan Trust v. DB Structured Products, Inc.District Court, S.D. New York · 2014
- Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-OA1 ex rel. HSBC Bank, USA, National Association v. DB Structured Products, Inc.District Court, S.D. New York · 2013
- Homeward Residential, Inc. v. Sand Canyon Corp.District Court, S.D. New York · 2014
10 more not listed; retrieve them via the Exa API.