Blackrock Balanced Capital Portfolio (FI) et al v. HSBC Bank USA

  1. May 23, 2018

    2nd Circ. Won't Review Cert. Denial In HSBC RMBS Suits

    A Second Circuit panel on Tuesday declined to review a New York federal judge's decision against certifying two proposed classes of investors accusing HSBC Bank USA of failing to properly oversee an array of residential mortgage-backed securitization trusts.  

  2. April 19, 2018

    BlackRock, Royal Park Can't Toll RMBS Suits Against HSBC

    Investors who lost their bid for class certification can't pause the clock on claims against HSBC Bank USA NA for allegedly botching its trustee responsibilities on hundreds of residential mortgage-backed securities trusts while they appeal, a New York federal judge ruled Thursday.

  3. January 29, 2018

    RMBS Investors Make Case For Class Cert. In HSBC Suit

    Investors suing HSBC Bank USA NA over its handling of more than 200 residential mortgage-backed securities trusts told a New York federal judge on Friday that a magistrate judge's recent recommendation against certifying a similar suit involving Wells Fargo as a class action doesn't undermine their own bid for class certification.

  4. June 28, 2017

    HSBC Says Housing Crash Claims Too Varied For Class Action

    A unit of HSBC Holdings PLC told a New York federal judge Tuesday that billions of dollars of legal claims stemming from the failure of mortgage-backed securities it oversaw could not be resolved through class actions, saying the disputes need to be resolved on a loan-by-loan basis.

  5. June 02, 2017

    RMBS Investors Seek Class Cert. In $3B HSBC Case

    BlackRock Inc. and other asset managers that invested in residential mortgage-backed securities overseen by HSBC Bank NA have asked a New York federal judge for class status in a joint bid to recover over $3 billion in financial crisis-era losses the investors blame on HSBC.

  6. May 23, 2017

    HSBC Fights For Right To Legal Advice Defense In MBS Row

    HSBC urged a New York federal court Monday to reject a magistrate judge's recommendation to bar the bank from deflecting blame onto its lawyers in a raft of cases alleging HSBC failed to protect investors from toxic mortgage-backed securities, saying it is too early to know whether it will raise the defense.

  7. May 09, 2017

    HSBC Can't Raise Atty Advice In RMBS Cases, Judge Says

    An HSBC Holdings PLC unit facing allegations concerning its oversight of residential mortgage-backed securities trusts cannot defend itself by arguing it relied on its attorneys' advice while refusing to divulge its contents, a New York federal magistrate judge said Monday.

  8. January 06, 2017

    BlackRock, Others Seek Nod For Sampling In HSBC Suit

    BlackRock Inc. and a group of coordinated asset management plaintiffs have asked a New York federal judge to allow them to use sampling to help determine HSBC's liability in a suit accusing the bank of failing as a trustee of collateralized loans.

  9. June 03, 2016

    BlackRock Must Give HSBC Old Owners' Info In RMBS Suit

    A New York federal judge said Thursday that BlackRock Inc. must at least try to produce discovery documents for previous owners of residential mortgage-backed securities trusts, whose rights the asset management giant wants to assert, in its suit accusing HSBC of shirking its duties as their trustee.

  10. June 01, 2015

    HSBC Can't Slip BlackRock's Suit Over RMBS Trusts

    A New York federal judge ruled Monday that a unit of HSBC Holdings PLC must face a trio of suits, including one brought by BlackRock Inc., accusing the multinational bank of shirking its duties as trustee for a combined 283 residential mortgage backed securities trusts that collapsed during the housing crisis.