Case Digests

Summary

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U.S. Court of Appeals for the Second Circuit

Champerty

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Extract

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Case Digests

Trust for the Certificate Holders of

the Merrill Lynch Mortgage

Investors Inc. v. Love Funding Corp.

07-1050-cv

Appealed from the

Southern District of New York

Background: The appeal is from an order entered after a bench trial, voiding as champertous an assignment of rights to the plaintiff, a trust representing the holders of commercial mortgage- backed securities, which assignment enabled the plaintiff to sue Love Funding Corp., the originator of a securitized loan held by the plaintiff. The district court held that the assignment constituted champerty because the trust's primary purpos...

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