Deutsche Bank National Trust Co. v. Superior Court
This case arises out of the labyrinth of residential mortgage-backed securities and related financial instruments and arrangements that distributed the risk of default of subprime and other mortgages and were involved in the subprime mortgage crisis of a decade ago. Real party in interest and appellant Assured Guaranty Corp. (Assured) appeals an order instructing plaintiff Deutsche Bank National Trust Company, as indenture trustee (Trustee) for the note trust formed under the indenture dated as of August 22, 2007, related to the AAA Trust 2007-2 trust 2ecurities, Series 2007-2 (Indenture), to reject Assured's allocation instruction and follow the definition of the term "Loss" as set forth in the Indenture. Assured is the insurer of the Class A-1 and Class A-2 Notes issued by the AAA Trust 2007-2 (Trust), which holds in its estate various residential mortgage-backed securities (Underlying Certificates).
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