{"id":6039,"date":"2016-09-23T18:47:51","date_gmt":"2016-09-23T23:47:51","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1094"},"modified":"2022-03-22T15:07:17","modified_gmt":"2022-03-22T20:07:17","slug":"aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/","title":{"rendered":"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse"},"content":{"rendered":"<blockquote>\n<div class=\"WordSection1\">\n<div class=\"\"><span class=\"\">Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B collateralized debt obligation.\u00a0 The Japanese lender claims that a lower court erred in dismissing the claims it had previously brought on the grounds that they were submitted too late.<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">It was last year \u00a0that\u00a0<\/span><span class=\"\">New York Supreme Court Judge Charles E. Ramos\u00a0 threw out the CDO fraud lawsuit on the grounds that the state\u2019s statute of limitations had already passed.\u00a0 In New York, fraud claims can be brought within two years from when a plaintiff could have, with reasonable diligence, realized that it was defrauded or within six years of when a transaction had closed.<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\">Aozora believes that Credit Suisse employed a \u201ctrash bin\u201d for its assets that were toxic. The Japanese lender purchased the Jupiter High-Grade CDO V Ltd CDO notes for $40M on 5\/11\/07 but did not file it\u2019s case until 6\/26\/13. Ramos said that Aozara failed to prove that there was no way\u00a0 it could have discovered the problems with the Jupiter V notes that it purchased from Credit Suisse before that filing date.<\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\">\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/#more-6039\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B collateralized debt obligation.\u00a0 The Japanese lender claims that a lower court erred in dismissing the claims it had previously brought on the grounds that they were [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3742,3817,3752],"tags":[],"class_list":["post-6039","post","type-post","status-publish","format-standard","hentry","category-collateralized-debt-obligation","category-credit-suisse","category-financial-firms"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse &#8212; Investor Lawyers Blog &#8212; September 23, 2016<\/title>\n<meta name=\"description\" content=\"Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B &#8212; September 23, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse &#8212; Investor Lawyers Blog &#8212; September 23, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B &#8212; September 23, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse &#8212; Investor Lawyers Blog &#8212; September 23, 2016","description":"Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B &#8212; September 23, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/","twitter_card":"summary_large_image","twitter_title":"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse &#8212; Investor Lawyers Blog &#8212; September 23, 2016","twitter_description":"Aozora Bank Ltd. has asked a New York appeals court to allow it to sue Credit Suisse (CS) again over losses that it claims it sustained from a $1.5B &#8212; September 23, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse","datePublished":"2016-09-23T23:47:51+00:00","dateModified":"2022-03-22T20:07:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/"},"wordCount":309,"articleSection":["Collateralized Debt Obligations","Credit Suisse","Financial Firms"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/","url":"https:\/\/www.investorlawyers.com\/blog\/aozora-bank-asks-ny-appeals-court-revive-1-5b-cdo-fraud-case-credit-suisse\/","name":"Aozora Bank Asks NY Appeals Court to Revive $1.5B CDO Fraud Case Against Credit Suisse &#8212; 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