NY High Court Brings Finality To RMBS Repurchase Claims

Law360, New York (June 16, 2015, 5:50 PM EDT) -- On June 11, 2015, New York's Court of Appeals unanimously affirmed the Appellate Division, First Department's decision in Ace Securities Corp. v. DB Structured Products Inc. and held that New York's six-year statute of limitations for breach of contract claims begins to run on the date that the residential mortgage-backed security (RMBS) defendant's contractual representations and warranties were first made, not on the date of its refusal to comply with the parties' agreed-upon remedy provision....

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