News & Analysis as of

Representations and Warranties Appeals

Kramer Levin Naftalis & Frankel LLP

Under Recent New York Case, You May Be Liable for Interest on Unclaimed Property

Banks, insurers and other financial services companies, as well as other companies holding unclaimed property, are automatically liable for interest that accrues on unclaimed property held by them in New York, without having...more

Skadden, Arps, Slate, Meagher & Flom LLP

Developments and Trends in US and Japanese M&A

On May 6, 2019, Skadden hosted the Cross-Border M&A Conference 2019, titled “Developments and Trends in US and Japanese M&A.” Key takeaways from the two panel discussions are summarized below....more

Farrell Fritz, P.C.

Does "freedom of contract" really exist when it comes to statute of limitations in a mortgage-backed securities contract?

Farrell Fritz, P.C. on

Although we generally report on recent Commercial Division decisions, and sometimes commercial cases coming out of the Appellate Divisions, this time we go all the way to the top: the Court of Appeals. Not often do we see...more

Bilzin Sumberg

Jury, Not Judge, Must Decide Meaning of Representations

Bilzin Sumberg on

Last month, New York’s intermediate appellate court reversed a grant of summary judgment in favor of plaintiff MBIA Ins. Corp. MBIA, an insurer of RMBS trusts and a common plaintiff in this type of litigation, had sued Credit...more

Cadwalader, Wickersham & Taft LLP

Accrual Clauses in RMBS Contracts Violate New York Law and Public Policy

On October 16, 2018, the New York State Court of Appeals held that contractual attempts to extend the statute of limitations for causes of action involving breaches of contract are unenforceable because they violate New York...more

Bennett Jones LLP

Whole Agreement Clause Upheld by Court of Appeal

Bennett Jones LLP on

A properly-worded whole agreement clause is effective to exclude liability for innocent and negligent misrepresentations, the Alberta Court of Appeal recently held in Houle v Knelsen Sand and Gravel Ltd, 2016 ABCA 247...more

Buchalter

Warning: Warranties Can Survive Close of Escrow Even When You Think They Won’t

Buchalter on

As the seller of real property, you might have heard: “Don’t worry, that warranty won’t survive the closing.” Or, you may have assumed that because the purchase agreement stated that certain representations and warranties did...more

Balch & Bingham LLP

Eleventh Circuit Throws Open The Door To State-Law Class Actions In Federal Court

Balch & Bingham LLP on

In a first-of-its-kind opinion that could open the class action flood gates, the Eleventh Circuit has held that state consumer fraud class actions may proceed in federal court even if the state consumer fraud statute...more

Orrick - Finance 20/20

New York’s Highest Court Affirms Dismissal of RMBS Suit Against DB Structured Products as Time-Barred

Orrick - Finance 20/20 on

On June 11, 2015, the New York Court of Appeals issued its decision in the closely-followed case of ACE Securities Corp., Home Equity Loan Trust, Series 2006-SL2 v. DB Structured Products, Inc. New York’s highest court...more

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