New York Put-Back Litigation is a form of litigation involving claims made by investors against financial institutions that sold them faulty mortgage-backed securities (MBS). The claims allege that the MBS were sold in violation of representations made by the financial institutions, including misstatements and omissions concerning the underlying assets of the MBS. Investors are seeking to “put back” the faulty MBS, meaning they are demanding that the financial institutions repurchase them at face value. The two primary types of New York Put-Back Litigation are direct and representative claims. Direct claims involve investors suing the financial institutions that sold them the MBS directly. Representative claims involve investors joining together to sue the financial institutions on behalf of a larger group of investors. The representative action is often referred to as a “class action”.
New York Put-Back Litigation
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You will have to pay the court fee to file your claim. If your claim is for an amount up to and including $1,000.00, there is a fee of $15.00. If your claim is for an amount over $1,000.00 and up to $10,000.00, there is a fee of $20.00.
To begin an action in Small Claims Court, a person, or someone acting on his or her behalf, must come to the Small Claims Court Clerk's office in the proper county and fill out a statement of claim. To find out where the clerk's office is located in your county, click on Locations.
You can either answer the summons in writing or in person. If you answer in person, you must go to the courthouse clerk's office and tell the clerk about your defenses to the plaintiff's claims. The clerk will check off the boxes in a Consumer Credit Transaction Answer In Person form.
You must fill out the Application for a Pro Se Summons form and submit it to the clerk in the county where you are suing, along with payment of the court fee. The fee must be paid by cash, certified check, money order or bank check. Personal checks will not be accepted.
You must fill out the Application for a Pro Se Summons form and submit it to the clerk in the county where you are suing, along with payment of the court fee. The fee must be paid by cash, certified check, money order or bank check. Personal checks will not be accepted.
You can contact the court to see if it has a form for you, where you go to file your papers, how the filing fee must be paid, and if you need anything else, like a Request for Judicial Intervention (RJI) form. To start the case, go to the courthouse and pay the filing fee and get your Index Number or Docket Number.
Small Claims Court helps individuals or corporations resolve disputes when the amount of the claim is $10,000 or less. All defendants must have an address in New York City. Get Small Claims Court information, including locations and hours of operation.
In New York City, a filing usually must be made within 90 days of an incident. The statute of limitations for claims against a municipality or a government agency may be different from the statute of limitations for claims against a private party; see the New York General Municipal Code for further information.