Insurer Contests Damages Limit In $1.8B Credit Suisse Row

Law360, New York (December 12, 2013, 7:16 PM EST) -- Assured Guaranty Corp. should be able to seek consequential damages from Credit Suisse AG for allegedly lying about the quality of the loans in $1.8 billion worth of mortgage-backed securities, the monoline insurer's attorney told a New York appellate court Thursday.

Philippe Selendy of Quinn Emanuel Urquhart & Sullivan LLP, who represents Assured Guaranty, told the five-judge panel that a lower court was wrong to slash the damages his client could pursue from Credit Suisse's affiliates, which allegedly made misrepresentations about the loans in the securities...
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