Credit Suisse Unit Says Loan Buyback Suit Is Too Late

Law360, New York (February 4, 2014, 7:17 PM EST) -- A Credit Suisse AG unit on Tuesday urged a New York judge to throw out a suit seeking to force the bank to buy back more than $1 billion dollars in toxic mortgage loans used to issue securities by a trust, arguing the suit is untimely.

DLJ Mortgage Capital Inc. claims the suit brought by the U.S. Bank National Association as a trustee for the trust is barred by a six-year statute of limitations, which accrues on the date a plaintiff acquires the right to demand...
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