ACE Files Complaint Re-Asserting Repurchase Claims Dismissed by the First Department

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On June 18, trustee HSBC sued with respect to ACE Securities Corp. Home Loan Trust Series 2006-SL2 against DB Structured Products, Corporation., a Deutsche Bank Subsidiary, in New You are able to condition court. The complaint tries to revive claims formerly ignored by New York’s First Department intermediate appellate court. In the December 2013 decision, the very first Department held the Trustee’s claims were untimely which the certificate holder-plaintiffs who initially had introduced the claims lacked standing to file a lawsuit. Complaintant asserts the new complaint is correctly introduced within method that permits refiling a suit within six several weeks after dismissal on certain grounds, alleging it has cured the deficiencies formerly recognized by the very first Department. Within the new action, the complaintant again alleges that DB Structured Products breached contractual representations and warranties associated with home loans underlying the securitization at issue. Complaint.

 

 

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