07:27 AM EDT, 07/29/2024 (MT Newswires) -- NatWest Group ( NWG ) is reportedly suing mortgage finance firm Credit Management & Investor Solutions, formerly General Motors Acceptance Corp., for over 155 million euros ($168 million) plus interest due to alleged failed securitization deals from the pre-financial crisis period, the Financial Times reported Monday.

NatWest's ( NWG ) case against CMIS was presented last week in the High Court in London.

The dispute revolves around agreements made by ABN Amro, acquired by NatWest ( NWG ), and CMIS to manage risks from the securitization of mortgages in the Netherlands and Germany.

CMIS, formerly backed by General Motors, allegedly stopped payments in 2017, according to the complaint.

NatWest ( NWG ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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