David B. Saxe and Danielle C. Lesser.
In the Ambac Assurance v. Countrywide Home Loan, No. 79, 2018 N.Y. LEXIS 1542 (Ct. App. June 27, 2018), the Court of Appeals upheld a contractual sole remedy clause, adhering to long-standing precedent.
Plaintiffs Ambac Assurance Corp. and others (collectively, Ambac), an insurer, sought to use contractual remedies other than the sole remedies clause in connection with its claim that defendants Countrywide Home Loans Inc. and others, (collectively, Countrywide) breached various representations and warranties contained in the insurance and indemnity agreements (the I&I agreements) between the parties.
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