Law360, New York (April 4, 2016, 2:07 PM EDT) -- A New York state judge refused to entirely stamp out a suit seeking to make a Credit Suisse AG unit buy back more than $1 billion dollars in toxic mortgage loans used to back securities by a trust, sticking to her holding that the suit met its deadline.On March 29, New York Supreme Court Judge Marcy S. Friedman reiterated that the claims by U.S. Bank National Association as a trustee for the trust are not barred by a six-year statute of limitations, as Credit Suisse securitizer DLJ Mortgage Capital Inc. had argued.In March 2015, the judge had dismissed the suit... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
A federal judge has ruled that a lawsuit seeking to make a Credit Suisse subsidiary buy back more than $ 1bn dollars in toxic mortgage loans used to purchase securities by a trust was filed in time , stating it was not covered by a five - year statute of limitations .