In Scavetta v Wechsler, the First Department affirms the dismissal of negligence claims against the owner of a dog that, when leashed to a bicycle rack, dragged the rack into the street injuring the plaintiff. Although the Court noted that it was constrained to dismiss the case by the Court of Appeals' vicious propensities rule in …
In Case of First Impression, First Department Holds RMBS Trustee Has Standing to Enforce Putback Rights
In Natixis Real Estate Capital Trust 2007-HE2 v Natixis Real Estate Holdings, LLC, the First Department holds, in a case of first impression in NY, that the Securities Administrator of a residential mortgage backed securities (RMBS) trust has standing to bring an action to enforce putback rights, in addition to the standing normally granted to …
In Basis PAC-Rim Opportunity Fund (Master) v TCW Asset Mgt. Co., the First Department holds loss causation lacking in a residential mortgage backed securities fraud case where the investment tanked at the same time as the housing market. The Court clarified that it is not impossible to show fraud in the event of a market …
New York Appeals 