United States: One Year After Ambac: Sharing Information Among Deal Parties

On June 9, 2016, the New York Court of Appeals issued its decision in Ambac Assurance Corp. v. Countrywide Home Loans Inc.¹ and held that the common interest doctrine protects only communications among deal parties that are related to a shared legal interest in pending or reasonably anticipated litigation. The court justified its decision as adhering to long-standing New York precedent, which had traditionally limited the doctrine's application to litigation-related communications.²

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Originally published by Law360, June 9, 2017.

Footnotes

[1] Ambac Assurance Corp. v. Countrywide Home Loans Inc., 27 N.Y.3d 616, 628 (N.Y. 2016)

[2] Id.

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