MBIA Suit Over $1B CDO Deal Survives

Law360, New York (March 28, 2011, 4:24 PM EDT) -- A New York federal judge decided Friday that MBIA Inc. could pursue its claim that a Dutch bank violated an agreement when it didn't notify the insurer before selling a chunk of securities underlying a $1 billion collateralized debt obligation.

In considering competing motions for summary judgment, Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York refused to rule totally in favor of either MBIA or Cooperatieve Centrale Raiffeisen-Boerenleenbank BA, known as Rabobank, on the notice claim, though he...
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