Cadwalader Wickersham & Taft is facing a $70m (£34.6m) malpractice suit brought by Nomura Asset Capital, writes the New York Law Journal, as advisers face a global slowdown in the market for mortgage-backed securities. The suit against Cadwalader was filed last October in the Manhattan Supreme Court over documents the New York law firm drafted for a 1997 securitisation transaction in which Nomura pooled 156 commercial mortgages worth around $1.8bn (£890m).
September 26, 2007 at 06:44 AM
1 minute read
The original version of this story was published on Legalweek
Cadwalader Wickersham & Taft is facing a $70m (£34.6m) malpractice suit brought by Nomura Asset Capital, writes the New York Law Journal, as advisers face a global slowdown in the market for mortgage-backed securities.
The suit against Cadwalader was filed last October in the Manhattan Supreme Court over documents the New York law firm drafted for a 1997 securitisation transaction in which Nomura pooled 156 commercial mortgages worth around $1.8bn (£890m).
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