MBIA Fraud Claims Against Countrywide, BofA Live On

Law360, New York (April 30, 2010, 4:45 PM EDT) -- A New York state court judge has kept alive bond insurer MBIA Inc.'s fraud claims against Bank of America Corp. over failed securitizations put together by failed mortgage giant Countrywide Financial Corp.

In a ruling Wednesday, Justice Eileen Bransten of the New York State Supreme Court denied Bank of America and Countrywide's motion to dismiss the fraud claims as well as those for breach of the implied covenant of good faith and fair dealing.

The judge also denied Bank of America's motion to be dismissed from...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.