ANATO OPPORTUNITY FUND I, LP v. WELLS FARGO BANK, N.A.

654411/16, 4471, 4470.

153 A.D.3d 1161 (2017)

2017 NY Slip Op 06598

61 N.Y.S.3d 215

ANATO OPPORTUNITY FUND I, LP, Appellant, v. WELLS FARGO BANK, N.A., et al., Respondents.

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

Decided September 26, 2017.


The breach of contract claim against defendant Wells Fargo, the securities administrator, is barred by the no-action clause in the pooling and servicing agreement governing the residential mortgage-backed securitization trust in which plaintiff invested. The clause applies to "any" claims "with respect to" the agreement, and expressly excludes any exceptions, which distinguishes the agreement from instruments that allow claims for nonpayment notwithstanding such clauses ...

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