SIFMA submitted an Amicus “Friend of the Court” Brief

Court:  

U.S. Court of Appeals
(Second Circuit)

Amicus Issues:  

Whether residential mortgage-backed securities certificates issued by certain New York common law trusts are debt, not equity, and thus, are covered by the Trust Indenture Act, which generally applies to debt securities.

Whether plaintiffs have standing to assert claims on behalf of all purchasers of securitization trusts, including those which they did not purchase, relying on the decision in NECA-IBEW v. Goldman Sachs, 693 F.3d 145 (2d Cir. 2012).

Counsel of Record:   

Cadwalader, Wickersham & Taft LLP

Martin L. Seidel
Nathan M. Bull
Blake A. Gansborg

Other Amici:   

The Clearing House Association L.L.C.