We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

US Bank Can't Press Pause On Trimmed Ambac RMBS Suit

Law360 (June 29, 2018, 10:22 PM EDT) -- A New York federal court has denied U.S. Bank NA's bid to pause a lawsuit by insurer Ambac Assurance Corp. alleging that the bank failed to prevent losses on billions of dollars’ worth of residential mortgage-backed securities, saying Friday that the federal action should be trimmed but is not parallel with two state proceedings.

U.S. District Judge William H. Pauley ruled against U.S. Bank’s contention that Ambac’s suit is duplicative of two sets of legal actions in state courts, finding that neither shares an overlap of both...
To view the full article, register now.




Case Information

Case Title

Ambac Assurance Corporation v. US Bank National Association

Case Number



New York Southern

Nature of Suit

Contract: Other


William H. Pauley, III

Date Filed

April 11, 2017

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.