Legal Opinion
Merrill Lynch Mortgage Investors, Inc. v. Love Funding Corp.
New York Court of Appeals
Decided October 15, 2009No. 123PublishedCited by 45 opinions
1Opinion of the Court
OPINION OF THE COURT
Pigott, J.
The United States Court of Appeals for the Second Circuit has certified to us questions relating to Judiciary Law § 489, New York’s champerty statute. We hold that a corporation or association that takes an assignment of a claim does not violate Judiciary Law § 489 (1) if its purpose is to collect damages, by means of a lawsuit, for losses on a debt instrument in which it holds a preexisting proprietary interest.
I
Love Funding Corporation (Love Funding), a commercial mortgage-banking corporation, entered into a Mortgage Loan Purchase Agreement (the Love MLPA) with…
2Cases cited17 opinions
- Moses v. . McDivittNew York Court of Appeals · 1882
- Red Tulip, LLC v. NeivaAppellate Division of the Supreme Court of the State of New York · 2007
- Fairchild Hiller Corp. v. McDonnell Douglas Corp.New York Court of Appeals · 1971
- Bluebird Partners v. First Fidelity Bank, N. A.New York Court of Appeals · 2000
- Sprung v. JaffeNew York Court of Appeals · 1957
12 more not listed; retrieve them via the Exa API.
3Cited by45 opinions
- Justinian Capital SPC Ex Rel. Blue Heron Segregated Portfolio v. WestLB AGNew York Court of Appeals · 2016
- 71 Clinton St. Apts. LLC v. 71 Clinton Inc.Appellate Division of the Supreme Court of the State of New York · 2014
- Universal Investment Advisory SA v. Bakrie Telecom Pte., Ltd.Appellate Division of the Supreme Court of the State of New York · 2017
- Trust for Certificate Holders of Merrill Lynch Mortgage Investors, Inc. v. Love Funding Corp.Court of Appeals for the Second Circuit · 2010
- Beazley Insurance Co. v. ACE American Insurance Co.District Court, S.D. New York · 2016
40 more not listed; retrieve them via the Exa API.