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Results: 1-10 of 27

When non-recourse isn’t really non-recourse at all: the Cherryland decision full recourse enforcement of a non-recourse loan

  • Lowenstein Sandler LLP
  • -
  • USA
  • -
  • July 2 2012

The Michigan Court of Appeals recently decided a case that has garnered the attention of lenders, real estate owners, and developers nationwide

Court certifies RMBS investor class in IndyMac RMBS suit

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 27 2012

On August 17, Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York certified a class of investors in an action brought by lead plaintiffs Wyoming State Treasurer and Wyoming Retirement System against several financial institutions in connection with RMBS issued by IndyMac

Single purpose entity provisions in CMBS loans in the wake of Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship, et al. (Mich. App. Dec. 27, 2011)

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • January 26 2012

This alert discusses possible "springing recourse" liability for borrowers and guarantors arising out of last month's decision in Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship (Cherryland), decided last month by the Michigan Court of Appeals

New York federal court upholds jurisdiction over foreclosure of securitized commercial mortgage

  • Bryan Cave LLP
  • -
  • USA
  • -
  • May 23 2012

Given the historically high volume of both residential and commercial foreclosures, lenders in those states that utilize a judicial foreclosure process have often found themselves faced with significant delays

Court limits Assured Guaranty’s claims against UBS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 27 2012

On August 15, Judge Harold Baer, Jr. of the federal district court for the Southern District of New York granted in part and denied in part UBS’s motion to dismiss claims asserted by Assured Guaranty Municipal Corporation in connection with three RMBS securitizations insured by Assured Guaranty

Justice Bransten rules on MBS causation motions

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • January 13 2012

We previously posted about the October 5, 2011 hearing before Justice Eileen Bransten in the New York Supreme Court’s Commercial Division in MBIA Ins. Co. v. Countrywide Home Loans, Inc., et al. (Index No. 60282508), during which Justice Bransten heard arguments concerning the causation burden presented by monoline insurers’ fraud and breach of warranty claims against Countrywide relating to mortgage-backed securities transactions the plaintiffs insured

The GGP bankruptcy so far: grounds for concern, sources for hope

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 8 2009

As the federal government and private markets make progress to quell economic recession and stimulate the engines of financial growth, recent headlines from the commercial real estate industry have focused on certain developments, such as the proposed changes in rating agency methodologies and the repeated false starts with the government’s TALF and PPIP programs

GGP: single purpose entity or all in the corporate family?

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 25 2009

On August 11, 2009, in a long-anticipated ruling in the Chapter 11 case of General Growth Properties, Inc. (GGP), the court denied the motions to dismiss that had been brought on behalf of several of the property-level lenders

Court denies in part motions to dismiss FHFA's claims against countrywide and various underwriters

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • April 2 2013

On March 15, Judge Mariana Pfaelzer of the United States District Court for the Central District of California denied in part motions to dismiss

New Jersey federal district judge dismisses claims against UBS as untimely

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • October 10 2011

On September 29, 2011, Judge Cavanaugh of the New Jersey federal district court dismissed a class action securities suit brought against UBS by RMBS investors