Deutsche Bank

News & Analysis as of

Mortgage Loans: Deutsche Bank v. Quicken Loans

We previously posted about ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013), which is a critical ruling out of New York’s intermediate state appellate court. In...more

The Second Circuit Previews Issues for the Supreme Court Decision in Omnicare

In a preview of the issues raised in Omnicare, Inc. v. The Laborers District Council Construction, No. 13-435 (discussed here and here), the Second Circuit in Kaess v. Deutsche Bank AG, No. 13-2364 (2d Cir. July 16, 2014)...more

Trustee’s Repurchase Suit Against Quicken Loans Dismissed as Time-Barred

On August 4, Judge Paul A. Crotty of the Southern District of New York granted Quicken Loans’ motion to dismiss a lawsuit brought by Deutsche Bank National Trust Co. (as Trustee of the GSR 2007-OA1 trust), alleging that...more

Whistleblower programs now providing incentives

Four years ago, Eric Ben-Artzi joined the Deutsche Bank AG in New York as a risk analyst. Within a year, he had noticed some sketchy dealings by the bank that seemed to overvalue billions of dollars worth of derivatives....more

Better Keep Your Opinions to Yourselves for Now: Second Circuit Doubles Down in Deutsche Bank Ruling in Advance of Supreme Court...

On July 16, 2014, a three-judge Second Circuit panel affirmed the dismissal of a securities class action against Deutsche Bank AG and several underwriters. The case was brought on behalf of investors who purchased...more

Royal Park Investments Sues RMBS Trustee Deutsche Bank Over $3.1 Billion in Alleged Losses

On June 18, Royal Park Investments filed a putative class action in the Southern District of New York against Deutsche Bank National Trust Company. This action is similar to a series of lawsuits filed by a group of...more

Fund Managers Sue Deutsche Bank for Breach of Contract and Fiduciary Duty

On June 18, financial institutions including BlackRock Inc., Pacific Investment Management Co., Prudential Financial Inc., DZ Bank AG, and Charles Schwab Co., sued Deutsche Bank National Trust Company in New York state court....more

Orrick's Financial Industry Week in Review

Council of EU Agrees on General Approach on the Fourth Money Laundering Directive and Revised Wire Transfer Regulation - On June 15, the Council of the EU published a note (dated June 13, 2014) outlining the general...more

Credit Crunch Digest -- May 2014

This issue of the Credit Crunch Digest focuses on ongoing investigations into Libor manipulation by Deutsche Bank; fines against Barclays stemming from manipulation of the gold market; a warning by the SEC regarding Bitcoins;...more

Inside The Courts - March 2014 | Volume 6 | Issue 1

In This Issue: - U.S. SUPREME COURT: ..Lawson v. FMR LLC, No. 12-3 (U.S. March 4, 2014) ..Chadbourne & Parke LLP v. Troice, No. 12-79 (U.S. Feb. 26, 2014) - CLASS CERTIFICATION: ..In re BP...more

Interest On Tax Overpayments–Not Always Available

Code §6611 provides that the IRS will pay interest on tax overpayments back to the due date if the overpayment is not refunded within 45 days of the refund claim (or within 45 days of the return due date for a timely filed...more

Case Update: Authority to Endorse Note and Mortgage IS Self-Authenticating

In our August 29, 2013 post, we reported on a shift in the case law regarding the self-authentification of the authority to endorse a note and mortgage. Subsequently, however, the court in Bennett v. Deutsche Bank National...more

FHFA and Deutsche Bank Reach RMBS Settlement

On December 20, the Federal Housing Finance Agency announced it had reached a settlement for $1.925 billion with Deutsche Bank AG to resolve claims pending in the United States District Court for the Southern District of New...more

RMBS Class Action Against Deutsche Bank Dismissed

On December 18, Deutsche Bank was dismissed from an RMBS action brought by the New Jersey Carpenters Health Fund regarding certificates backed by RALI and HarborView trusts. Judge Harold Baer of the United States District...more

The bond breakthrough

In November 2012, Barclays raised a US$3bn corporate bond with a difference. The bank issued a contingent capital note (or coco) – a bond that automatically converts into equity as soon as a bank incurs losses that reduce its...more

The End Is In Sight? Deutsche Bank Claims Victory In Defense Of A Repurchase Claim Based Upon Statute Of Limitations

A unit of Deutsche Bank won dismissal of a suit brought by mortgage bond investors after a New York state appeals court determined the claims for loan repurchase and indemnity were subject to a six-year statute of limitations...more

FHFA Announces $1.9 Billion Settlement With Deutsche Bank

On December 20, 2013, the Federal Housing Finance Agency (“FHFA”), as conservator of Fannie Mae and Freddie Mac, announced that it will receive settlement payments of $1.925 billion from Deutsche Bank AG in connection with...more

European Commission Imposes EUR 1.71 Billion Fine for Participating in Illegal Cartels

On December 4, the European Commission announced that it had fined eight international banks a total of more than 1.7 billion for their participation in illegal cartels in markets for financial derivatives covering the...more

Court of Appeal finds against banks in allowing amendments to pleadings based on LIBOR manipulations

On 8 November 2013, the Court of Appeal handed down its much anticipated judgment in two related appeals, Graiseley Properties Limited and others -v- Barclays Bank Plc and Deutsche Bank and others -v- Unitech Global Limited...more

Deutsche Bank Settles Nevada AG’s RMBS Probe for $11.5 Million

On October 17, the Nevada Attorney General filed court documents disclosing a $11.5 million settlement with DB Structured Products, Inc., a unit of Deutsche Bank AG. The Nevada AG had investigated DB Structured Products’...more

Deutsche Bank Files $666 Million Suit Against GE Capital

On September 13, Deutsche Bank, acting in its capacity as Trustee of the Morgan Stanley ABS Capital I Inc. Trust, Series 2007-HE6 (the Trust), filed a lawsuit in the United States District Court for the District of...more

Deutsche Bank Sued for Fraud in Connection with US$535 Million in RMBS

In a lawsuit filed in New York State Court on August 5, Royal Park Investments SA/NV (RPI) alleged that several Deutsche Bank affiliates fraudulently induced it to invest in more than US$535 million worth of RMBS in...more

Lenders React to Richmond's Plan to Condemn Mortgages by Filing Suit

We all knew this was coming (see my post from July 23). If you poke a sleeping giant, it's going to file a lawsuit against you in federal court. Yesterday, in response to the City of Richmond's preliminary actions to...more

Federal Court Dismisses In Part Putback Claims Against Deutsche Bank

On July 23, Judge Robert W. Sweet of the United States District Court for the Southern District of New York dismissed in part a suit asserting putback claims against Deutsche Bank....more

Banking & Finance Litigation Update - Issue 65 (European Union)

In This Issue: - Domestic Banking - Domestic General - European Banking - European General - International Banking - International General - Press Releases - Case Law - Excerpt from...more

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