Civil Liberties Groups Back Banks In MBIA Appeal

Law360, New York (April 28, 2011, 4:46 PM EDT) -- Civil liberties groups argued last week that a New York state court ruling barring major banks from suing MBIA Inc. for $5 billion that was part of the bond insurer's 2009 restructuring could potentially stop challenges to administrative rulings without a fair hearing.

The New York Civil Liberties Union, MFY Legal Services and the Urban Justice Center said in an amicus brief filed April 21 in the New York State Court of Appeals that a January ruling by the New York Supreme Court, Appellate Division, First...
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