MBIA Must Give Credit Suisse Witness Docs, Judge Rules

Law360, Los Angeles (October 04, 2013, 9:00 PM ET) -- A New York state judge on Friday ruled that MBIA Inc. must turn over all documents pertaining to its interactions with confidential witnesses who bolstered its allegations that Credit Suisse AG affiliates stuffed MBIA-insured securities with shoddy mortgages.

The decision to require MBIA to turn over the documents comes after Judge Shirley Werner Kornreich ruled during a hearing in January that Credit Suisse couldn’t prevent the public from seeing the “unflattering” new allegations levied by the bond insurer in litigation that began in 2009. MBIA’s new complaint...
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