1 Year After Ambac: Sharing Information Among Deal Parties

Law360, New York (June 9, 2017, 1:54 PM EDT) -- On June 9, 2016, the New York Court of Appeals issued its decision in Ambac Assurance Corp. v. Countrywide Home Loans Inc.[1] and held that the common interest doctrine protects only communications among deal parties that are related to a shared legal interest in pending or reasonably anticipated litigation. The court justified its decision as adhering to long-standing New York precedent, which had traditionally limited the doctrine’s application to litigation-related communications.[2]

Ironically, this decision to stick with precedent only created more confusion by deepening the divide...
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