11061N. ASSURED GUARANTY MUNICIPAL CORP., FORMERLY KNOWN AS FINANCIAL SECURITY ASSURANCE INC., plf-res, v. DB STRUCTURED PRODUCTS, INC. def — DB STRUCTURED PRODUCTS, INC., THIRD-PARTY PLAINTIFF, v. GREENPOINT MORTGAGE FUNDING, INC., Third-Party def-ap — Murphy & McGonigle, P.C., New York (James K. Goldfarb of counsel), for ap — Patterson Belknap Webb & Tyler LLP, New York (Robert W. Lehrburger of counsel), for res — Order, Supreme Court, New York County (Shirley Werner Kornreich, J.), entered July 16, 2012, which granted plaintiff Assured Guaranty Municipal Corp.’s motion for a protective order preventing the discovery of documents and information concerning its pre-complaint repurchase review, unanimously affirmed, with costs.
In this action arising from the securitization of home equity lines of credit originated by third-party defendant GreenPoint, and sold to defendants DB Structured Products, Inc. and ACE Securities Corp., plaintiff insurer issued a policy guaranteeing payment of certain classes of the securities issued and when the loans began to default at what it considered to be a high rate, it retained a law firm that hired consultants to conduct a forensic re-underwriting review of the loans. Based on the consultant’s findings, plaintiff commenced the instant action alleging, inter alia, fraudulent inducement and breach of representations and warranties. Thereafter, defendants served demands seeking any and all records surrounding the loan review conducted by the consultants and plaintiff provided the consultants’ conclusions and the raw data used in their analysis but asserted the attorney work product and trial preparation privileges in objecting to the remainder of the demands, including the demand for correspondence between the consultants and plaintiff’s counsel and documents concerning the methodology employed by the consultants. Plaintiff moved for a protective order preventing the discovery of these documents and defendants and GreenPoint objected on the ground that plaintiff had placed the consultants’ findings “at issue.”
