Credit Suisse MBS Suit Not Time-Barred, Judge Says

Law360, New York (January 31, 2014, 6:19 PM ET) -- A New York judge on Wednesday largely left in place a breach of contract suit filed against Credit Suisse AG units that serviced collateralized mortgage loans purchased by a trust, but he limited the damages the trust may seek from the bank for allegedly misrepresenting the health of the loans.

New York Supreme Court Judge Melvin L. Schweitzer refused to grant the dismissal bid outright from Credit Suisse units Select Portfolio Services Inc. and DLJ Mortgage Capital Inc. on timeliness grounds, rejecting Credit Suisse’s argument that...
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