Insights From An Under-The-Radar CDO Case

Law360, New York (May 9, 2013, 1:26 PM EDT) -- A case that seems to have gone relatively unnoticed is ASR Levensverzekering NV v. Swiss Re Financial Products Corp.[1], which involved a synthetic collateralized debt obligation transaction known as "Breithorn." Dismissed by the Appellate Division[2] of the Supreme Court of the State of New York, the case provides useful insights into the application of New York fraud and contract law in the context of complex financial transactions.

The Transaction

The plaintiffs (collectively, "ASR") were affiliated Dutch insurance companies that purchased €62,500,000 (par value) of the Class B Breithorn notes. Defendant Swiss Re Financial Products Corporation was the arranger of the transaction....

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

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!