Nomura Escapes Suit Over $99M in MBS Trust Losses

Law360, New York (May 14, 2013, 8:34 PM EDT) -- A New York state judge on Friday threw out a $99 million lawsuit over allegedly defective mortgage-backed securities issued by Nomura Credit & Capital Inc., finding the majority investor in a loan trust waited too long to sue the bank for failing to repurchase securities.

Manhattan Supreme Court Justice Peter O. Sherwood said the six-year statute of limitations for breach of contract had run by August, when investment affiliates Zambezi C2 and C4 LCC filed an amended RMBS “putback” suit that substituted the securitization trust, known...
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