Commercial Division Blog

Posted: February 2, 2014 / Categories Commercial, Contracts, Statute of Limitations/Laches

RMBS Planitiff Moves for Leave to Appeal to Court of Appeals

On December 23, 2013, we blogged about the First Department's decision in ACE Sec. Corp. v. DB Structured Prods., Inc., 2013 NY Slip Op. 08517, which dismissed a mortgage-backed securities lawsuit as barred by the failure both to give the contractually-required notice and an opportunity to cure and to bring suit before the end of the limitations period.  As reported by Reuter's Allison Frankel, the plaintiff-appellant filed a motion for re-argument or, alternatively, leave to appeal to the Court of Appeals.  On the brief, a copy of which is available here, plaintiff-appellant's counsel, Kasowitz, Benson, Torres & Friedman LLP, is joined by former U.S. Solicitor General Paul D. Clement.