Ambac Assurance Corp. v. DLJ Mortgage Capital, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
This action arises from the securitization of home equity lines of credit, which were aggregated into a “pool” by defendant DLJ Mortgage Capital, Inc., and then transferred to a trust that was formed to issue securities to investors. The securities would be paid down based on the cash flow from the pooled loans. Defendant Credit Suisse Securities USA LLC served as the underwriter for the public offering of these securities, and plaintiff Ambac Assurance Corporation, through plaintiff The Segregated Account of AMBAC Assurance Corporation, issued an insurance policy guaranteeing payment of…
2Cases cited6 opinions
- Spectrum Systems International v. Chemical BankNew York Court of Appeals · 1991
- Ritt v. Lenox Hill HospitalAppellate Division of the Supreme Court of the State of New York · 1992
- Deutsche Bank Trust Co. v. Tri-Links Investment TrustAppellate Division of the Supreme Court of the State of New York · 2007
- Manufacturers & Traders Trust Co. v. Servotronics, Inc.Appellate Division of the Supreme Court of the State of New York · 1987
- Long Island Lighting Co. v. Allianz Underwriters InsuranceAppellate Division of the Supreme Court of the State of New York · 2002
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
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- Gumbs v. Flushing Town Center III, L.P.Appellate Division of the Supreme Court of the State of New York · 2014
- Assured Guaranty Municipal Corp. v. DB Structured Products, Inc.Appellate Division of the Supreme Court of the State of New York · 2013
5 more not listed; retrieve them via the Exa API.