Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
W S
Investments / The Ticker

German bank files $160 million MBS suit too late

watch and money
/ Print / Reprints /
| Share More
/ Text Size+

According to Law360, Germany's fourth-largest bank, DZ Bank, was a little too late under that country's statute of limitations to sue UBS AG (UBS) over $160 million worth of mortgage-backed securities it bought.

Mary Kay Vyskocil of Simpson Thacher & Bartlett LLP, who represents UBS, told Judge Marcy Friedman that under New York's borrowing statute, the statute of limitations where the party's economic injury is felt determines which jurisdiction's statute of limitations applies to the case.

Source: Law360
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus