HSBC Gets Another Shot At Deutsche Bank RMBS Suit

Law360 (April 26, 2019, 4:18 PM EDT) -- A New York state appeals court on Thursday granted HSBC another opportunity to allege a division of Deutsche Bank failed to disclose risks associated with loans in two residential mortgage-backed securities trusts of which HSBC is the trustee.

At issue is whether Deutsche Bank’s DB Structured Products Inc. unit breached agreements with HSBC when it declined to tell the bank that it discovered loans in the RMBS trusts were faulty.

A trial court sided last year with the Deutsche Bank unit’s claim that it had no obligation to do so, but the appeals court revived the lawsuit after finding that HSBC's...

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