Judge Won't Stop MBIA From Deposing BofA Exec In MBS Suit

Law360, New York (April 12, 2012, 10:34 PM EDT) -- Bank of America Corp. lost its bid on Wednesday to block MBIA Inc. from deposing the bank's CEO, Brian Moynihan, in the monoline insurer's multibillion-dollar New York case over mortgage-backed securities it insured.

New York state judge Eileen Bransten denied Bank of America's request to protect Moynihan from deposition, finding that Moynihan had unique knowledge of the integration of Countrywide into Bank of America that could not be duplicated by deposing lower-level employees.

The bank had argued that deposing Moynihan was merely meant to harass the...
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