Credit Default Swap Contract Spat Sent To State Court

Law360, New York (January 4, 2010, 6:46 PM EST) -- A federal judge has granted a request by MBIA Insurance Corp. and LaCrosse Financial Products LLC to send their dispute with Royal Bank of Canada over three credit default swap contracts back to state court in New York.

Judge Kenneth M. Karas of the U.S. District Court for the Southern District of New York on Wednesday remanded the financial service companies’ suit to the Supreme Court of the State of New York for the County of Westchester, where MBIA and LaCrosse originally lodged their summons with...
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