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ACE SEC. CORP. v. DB STRUCTURED PRODS., INC.

650980/2012

40 Misc.3d 562 (2013)

965 N.Y.S.2d 844

2013 NY Slip Op 23159

ACE SECURITIES CORP., HOME EQUITY LOAN TRUST, SERIES 2006-SL2, by HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee pursuant to a Pooling and Servicing Agreement, Dated as of March 1, 2006, Plaintiff, v. DB STRUCTURED PRODUCTS, INC., Defendant.

Supreme Court, New York County.

Decided May 13, 2013.

Attorney(s) appearing for the Case

Simpson Thacher & Bartlett LLP for defendant. Kasowitz, Benson, Torres & Friedman LLP for plaintiff.

OPINION OF THE COURT

SHIRLEY WERNER KORNREICH, J.

Defendant DB Structured Products, Inc. (DBSP) moves to dismiss the complaint pursuant to CPLR 3211 (a) (1), (3), (7), and (8). Defendant's motion is denied for the reasons that follow.

I. Factual Background and Procedural History

This case concerns DBSP's alleged breach of its contractual obligation to repurchase certain nonconforming loans that were pooled, deposited into a trust, securitized...

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