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Expert Analysis

Ambac Ruling Raises New Questions For RMBS Litigators

Law360, New York (November 7, 2014, 10:32 AM EST) -- The New York Courts continue to define the rights and duties of the various entities that are parties to, or claim rights under, the contracts that govern residential mortgage-backed securities (RMBS). Given the increasing number of litigations being seen in New York brought by entities seeking to reallocate the losses suffered by certificate holders and insurers as a result of the financial crisis' effect on RMBS, the courts' actions are not unexpected but warrant close scrutiny since each decision does have consequences that are not always readily obvious....

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