Ruling to Dismiss 'Reached in Error,' RMBS Investor Fund Argues

null Attorneys for an investment fund are asking a Manhattan state judge to reconsider his dismissal of a fraud suit against Goldman Sachs for its conduct in connection with the sale of $450 million in residential mortgage-backed securities.

 

The New Commercial Division Rules You Need to Know

null Jay Safer of Locke Lord writes: The New York Commercial Division has become a truly innovative court improving efficiency, lowering costs and shortening the duration of litigation. During the past year, numerous significant new Commercial Division rules have been generated—and more are coming. They will dramatically change the way cases are litigated.

Decisions
  • Thomas Ng v. Green Machine Bio-Systems of South Carolina – Bransten dismisses numerous claims against corporate defendants but upholds fraudulent conveyance claims against individual defendants in action to recoup $195K investment in grease recycling enterprise (Justice Eileen Bransten)
    July 25, 06:00 PM EDT
  • Coast To Coast Energy v. Mark Gasarch – Bransten rules that plaintiff oil investors failed to assert facts sufficient to establish jurisdiction over individual co-defendant and dismisses fraud claims against defendants (Justice Eileen Bransten)
    July 25, 05:55 PM EDT
  • Home Equity Mortgage Trust Series 2006-5 v. DLJ Mortgage Capital – Schweitzer grants trustee's motion to compel DLJ to turn over loan repurchase analyses and answer interrogatories relating to proposed loan sample, noting that RMBS repurchase analyses are not privileged (Justice Melvin L. Schweitzer)
    July 24, 06:27 PM EDT
  • E.D. & F. Man Sugar v. ZZY Distributors – Oing denies sugar distributor's motion for leave to add claims including violation of Debtor and Creditor Law and constructive trust for lack of standing and failure to attach supporting documentation in action over nonpayment for sugar order (Justice Jeffrey K. Oing)
    July 23, 05:46 PM EDT
Case Motions
  • BGC Notes v. Kevin J. Gordon – Securities broker moves to stay former employer's motion for summary judgment pending his motion to compel FINRA arbitration in employment agreement dispute over $700K bonus (Stern, Tannenbaum & Bell) (Justice Saliann Scarpulla)
    July 25, 05:20 PM EDT
  • Shareholder Representative Services v. Sandoz – Stockholders' representative for shareholders opposes motion to dismiss action over alleged breach of merger agreement based on standing and viability of claims (K&L Gates) (Justice Eileen Bransten)
    July 25, 05:11 PM EDT
  • Phoenix Light SF Limited v. Goldman Sachs Group – Plaintiff investors request leave to reargue court's dismissal of action and to amend complaint to add facts concerning reasonableness of plaintiffs' pre-investment due diligence in $450M RMBS action (Robbins Geller Rudman & Dowd) (Justice Charles E. Ramos)
    July 25, 05:09 PM EDT
  • Carlos Sobral v. Edmund Burke – Co-owners of jewelry merchant enterprise reply in further support of OSC arguing that petitioner's claims in demand for arbitration are barred by res judicata and collateral estoppel (Sankel, Skurman & McCartin) (Justice Eileen Bransten)
    July 25, 05:08 PM EDT