BNY Asks Judge To Rethink German Law In $1B RMBS Case

Law360, New York (April 5, 2017, 4:24 PM EDT) -- The Bank of New York Mellon asked a New York federal judge on Tuesday to reconsider his decision to let Commerzbank AG’s billion-dollar case proceed against it for poor oversight of residential mortgage-backed securities trusts, saying the case came too late under German law.

The decision by U.S. District Judge George B. Daniels last month to allow the most important parts of Commerzbank’s suit to proceed to discovery partly rested on a February decision in a similar suit Commerz launched against Deutsche Bank. In both cases, judges found that the defendants hadn’t shown that Commerz’s suits, filed in December 2015, came...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS