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AOZORA BANK, LTD. v. DEUTSCHE BANK SECURITIES INC.

652161/13, 360, 359.

137 A.D.3d 685 (2016)

29 N.Y.S.3d 10

2016 NY Slip Op 02511

AOZORA BANK, LTD., Appellant, v. DEUTSCHE BANK SECURITIES INC. et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided March 31, 2016.

This case is yet another action arising from the worldwide financial crisis that began in 2007. Plaintiff Aozora Bank, Ltd. is a Japanese commercial bank with its principal offices in Tokyo.1 Aozora invested in complex financial products backed by mortgages, including collateralized debt obligations (CDOs).2

In December 2006, Aozora invested in a CDO called Blue Edge, a $1.25 billion CDO that included residential...

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