MBIA Bests BofA, SocGen Suit Over $5B Restructuring

Law360, New York (March 4, 2013, 5:22 PM EST) -- MBIA Inc. came out on top Monday in Bank of America NA and Societe Generale SA’s opposition to New York regulators' approval of its $5 billion restructuring, when a state judge tossed their claims that the approval was based on misleading information on MBIA’s finances.

New York state Judge Barbara R. Kapnick dismissed the banks’ petition against the Armonk, N.Y.-based insurer and its affiliates over the 2009 restructuring, ruling that the banks had not shown that certain issues with the financial information that MBIA had conceded...
To view the full article, register now.