Judge Sees MBIA-Countrywide Trial Delay Of Up To 9 Months

Law360, New York (March 23, 2012, 2:16 PM EDT) -- MBIA Inc.'s push to squeeze more documents from Bank of America Corp.'s Countrywide unit in the insurer's multibillion-dollar lawsuit over securitized mortgages that MBIA insured could delay the trial by six to nine months, a New York state judge said Friday.

Judge Eileen Bransten's remarks during a hearing come as MBIA digs for more documents about what it calls a "pervasive corporate culture of fraud" at the mortgage lender. MBIA and other monoline insurers have accused Countrywide of making mortgage loans appear more creditworthy than they...
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