Morgan Stanley Seeks To Quash HSH's $524M RMBS Action

Law360, New York (February 25, 2014, 8:51 PM EST) -- Morgan Stanley & Co. Inc. on Tuesday urged a New York court to dismiss HSH Nordbank AG’s suit over $524 million worth of residential mortgage-backed securities that later tanked, arguing the German bank waited too long to bring its claims.

In oral arguments before New York Supreme Court Judge Marcy S. Friedman, a veteran of many RMBS cases, Morgan Stanley attorney James P. Rouhandeh of Davis Polk & Wardwell LLP said pursuant to New York’s “borrowing statute,” HSH is bound by Germany’s three-year statute of limitations....
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