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Expert Analysis

Oh, The Indemnity! New Claims May Follow RMBS Settlements

By Joseph Cioffi (July 6, 2017, 12:55 PM EDT) -- Recent actions by certain defendants in pre-financial crisis residential mortgage-backed securities (RMBS) litigation, including Lehman Brothers Holdings, suggest that as defendants resolve claims against them, they may look to the underlying transaction documents, contract law or equitable principles to seek indemnity from other securitization parties for any settlement payouts, expenses or losses incurred. Consequently, payments in connection with settlements and verdicts may signify the beginning of a new six-year period under New York law to bring indemnity claims....

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