ROYAL PARK INVS. SA/NV v. STANLEY

653695/13-653335/13. 7259. 652732/13. 7260. 653901/13. 7258. 7257.

165 A.D.3d 460 (2018)

86 N.Y.S.3d 14

2018 NY Slip Op 06695

Royal Park Investments SA/NV, Appellant, v. Morgan Stanley et al., Respondents. Royal Park Investments SA/NV, Appellant, v. Credit Suisse AG et al., Respondents. Royal Park Investments SA/NV, Appellant, v. Deutsche Bank AG et al., Respondents. Royal Park Investments SA/NV, Appellant, v. UBS AG et al., Respondents.

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

Decided October 9, 2018.


In these cases, which have been consolidated by this Court for purposes of this appeal, plaintiff alleges that defendants committed fraud in connection with the sale of residential mortgage-backed securities (RMBS). The threshold issue is whether plaintiff's standing is governed by New York or Belgian law.

Between 2005 and 2007, nonparties Fortis Bank, Fortis Bank SA/NV, Cayman Islands Branch (Fortis Cayman), and Scaldis bought RMBS from defendants. Nonparty Fortis...

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