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On August 9, 2016, RMBS trustee Deutsche Bank National Trust Company and WMC Mortgage, LLC, filed a joint motion to stay an appeal pending in the Court of Appeals for the Second Circuit.
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On August 9, 2016, RMBS trustee Deutsche Bank National Trust
Company and WMC Mortgage, LLC, filed a joint motion to stay an
appeal pending in the Court of Appeals for the Second Circuit. The
parties requested the stay to allow them time to finalize the
settlement of a lawsuit alleging that WMC misrepresented the
quality of loans it sold in a $1 billion 2006 RMBS offering. The
trial court had previously dismissed the lawsuit in 2015 (
covered here) as time-barred under New York's six-year
statute of limitations.
Joint Motion.
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