US Bank, BNY Mellon Escape $280M RMBS Trustee Suit
By Jon Hill (March 9, 2018, 8:22 PM EST) -- A New York federal judge ruled Thursday that three Triaxx collateralized debt obligation issuers have run out of chances on their $280 million suit alleging U.S. Bank NA and the Bank of New York Mellon dropped the ball as trustees to several dozen residential mortgage-backed securitization trusts.
U.S. District Judge Naomi Reice Buchwald dismissed the Triaxx case for what she said would be a final time on Thursday, almost two years to the day after the suit was initially filed. A third amended complaint filed by the Triaxx special-purpose investment vehicles in July still didn't fix the problems with standing that...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!