Goldman Sachs Hit With Another Suit Over $580M RMBS Sale

Law360, New York (July 12, 2013, 7:25 PM EDT) -- An investment entity with ties to the Belgian government sued Goldman Sachs Group Inc. in New York state court Friday over the alleged misrepresentation of the creditworthiness of $580 million of residential mortgage-backed securities sold between 2005 and 2007.

Royal Park Investments SA/NV, an entity created by the Belgian state, Ageas and BNP Paribas for the purpose of taking over a structured credit portfolio belonging to Fortis Bank SA/NV, claims the RMBS Fortis bought and RPI now owns are essentially worthless thanks to Goldman's misrepresentations....
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