Morgan Stanley Gets New Mortgages Axed From Revived Suit

Law360, Wilmington (August 8, 2012, 11:08 PM EDT) -- A Delaware judge on Tuesday axed additional toxic mortgages Central Mortgage Co. included in its reinstated and revised breach of contract suit against a Morgan Stanley unit, ruling those loans were barred by the statute of limitations that began ticking when the the original complaint was filed.

In a 67-page opinion, Chancellor Leo J. Strine Jr. tossed Central Mortgage's claims for 218 mortgage loans it had added to its original suit alleging Morgan Stanley breached their contract by failing to take back ill-performing loans rejected by...
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