Equity Firm Balks At MBIA's Bid For CLO Docs

Law360, New York (May 12, 2011, 5:08 PM EDT) -- A private equity firm asked a New York state court Tuesday to block MBIA Insurance Corp. from taking physical copies of documents about a firm-managed and MBIA-insured collateralized loan obligation, saying it has not broken an agreement by holding the documents.

Patriarch Partners XIV LLC filed suit seeking declaratory judgment that its offer to host the documents in a secured room in its offices — rather than delivering the information to MBIA directly — did not amount to a violation of a collateral management contract between...
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