Understanding When Claims Travel With The Debt

Law360, New York (August 10, 2017, 11:27 AM EDT) -- A recent case in New York State Supreme Court, One Williams Street Capital Management LP v. U.S. Education Loan Trust IV LLC (Sup. Ct. N.Y. Cty. May 15, 2017), affords a useful opportunity to review the applicability and scope of §13-107 of the New York General Obligations Law, which provides that a transfer of a bond “vests in the transferee all claims or demands of the transferrer.” The court observed that §13-107 extends to all claims, whether in contract or in tort, including fraud. However, §13-107...
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