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Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP
Posted: November 23, 2020

RMBS Trustee’s Obligation to Hold the Trust’s Contractual Rights and to Exercise Them For the Benefit of Certificateholders Includes Affirmative Duty to Enforce Those Rights

On November 5, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Western & S. Life Ins. Co. v. U.S. Bank N.A., 2020 NY Slip Op. 51307(U), holding that an RMBS trustee’s obligation to hold the trust’s contractual rights and to exercise them for the benefit of certificateholders includes an affirmative duty to enforce those rights . . .

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Posted in Commercial, Contracts