HSBC unit urges US appeals court to revive suit against Nomura

A unit of HSBC is urging a US appeals court to revive a lawsuit against Nomura over $289m worth of residential mortgage-backed securities, as the time was right; HSBC claims the Japanese lender reneged on its promises to repurchase or cure any poor performers among the underlying loans that formed the basis for the securitisation.

By Stewart Bishop (February 10, 2016, 10:13 PM EST) -- A unit of HSBC Holdings PLC on Wednesday urged a New York appeals court to revive its lawsuit against a division of Japanese lender Nomura Holdings Inc. over a soured pool of $289 million worth of residential mortgage-backed securities, saying the action was timely brought....

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