Publication Date: 2024-12-17
Practice Area: Contracts
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Bradley R. Aronstam, Garrett B. Moritz, Reiko Rogozen, Anthony Calvano, Ross Aronstam & Moritz LLP, Wilmington, DE; David M. Grable, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; Manisha M. Sheth, Wing F. Ng, Alex Zuckerman, Jeffrey C. Arnier, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Veronica B. Bartholomew, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE for plaintiff.
for defendant: Daniel A. Mason, Elizabeth Wang, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Richard Jacobsen, Thomas Kidera, Orrick Herrington & Sutcliffe LLP, New York, NY for defendant.
Case Number: 2022-1203-LWW
Purchaser of mortgage loans is entitled to damages where seller, who stayed on as servicer, breached representations and warranties regarding the status of some of the sold loans and failed to process distressed loans under applicable federal regulations, although seller was entitled to reimbursement of its expended servicing advances minus self-help it engaged in.
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