Natixis Seeks More Discovery In $877M RMBS Dispute
By Frank G. Runyeon (May 21, 2019, 10:47 PM EDT) -- A unit of French lender Natixis urged a New York state judge Tuesday to allow further discovery in an underlying case as it battled to save its third-party suit seeking to shift liability onto Wells Fargo for an $877 million residential mortgage-backed securities trust filled with toxic loans.
Given the prospect that Justice Marcy S. Friedman could dismiss Natixis Real Estate Holdings LLC's suit against Wells Fargo and leave Natixis to face potential liability for about $800 million in claims, the real estate company argued that it should be able to get more information about RMBS certificate holders' involvement in the...
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