HSBC Must Go Loan By Loan In $951M Suit: Deutsche Bank

Law360, New York (September 10, 2013, 3:53 PM EDT) -- HSBC Holding PLC, the trustee for $951 million worth of mortgage-backed securities, can't make blanket allegations about defective loans but instead must bring allegedly defective loans to Deutsche Bank AG's attention loan by loan, the German bank's attorney told a New York state judge Tuesday.

Deutsche Bank's attorney, David J. Woll of Simpson Thacher & Bartlett LLP, said that HSBC's lawsuit — which it brought at the behest of distressed debt investment firm Amherst Advisory & Management LLC and housing giant Freddie Mac — was overly...
To view the full article, register now.