Credit Suisse Unit Can't Dodge $497M MBS Suit

Law360, Los Angeles (September 25, 2013, 7:50 PM EDT) -- A New York judge has refused to dismiss a $497 million breach of contract suit filed against a Credit Suisse AG unit that serviced collateralized mortgage loans purchased by a trust, rejecting the unit's claim that the trust couldn't enforce the contract, according to a decision filed Monday.

New York Supreme Court Judge Melvin L. Schweitzer on Sept. 18 found that Home Equity Mortgage Trust Series 2006-5 was able to enforce a provision of the contract it entered with Select Portfolio Services Inc. and DLJ Mortgage...
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