BNY Mellon Loses 2nd Bid To Toss Commerzbank's RMBS Suit
Law360, New York (October 13, 2017, 4:01 PM EDT) -- A New York federal judge won’t rethink his decision to give a green light to some of Commerzbank AG’s claims in its suit over the Bank of New York Mellon’s alleged bungling of duties to a slew of residential mortgage-backed securities trusts and a collateralized debt obligation, saying Thursday that he applied the right legal standard.
BNY Mellon had moved for reconsideration earlier this year after U.S. District Judge George B. Daniels denied its bid to dismiss Commerzbank AG’s suit as untimely under German law, but the judge wasn’t buying BNY Mellon’s argument that he misstated the appropriate legal standard from...
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