MBIA, Dutch Bank Drop Suit Over $1B CDO Deal

Law360, New York (August 18, 2011, 5:19 PM EDT) -- A New York federal judge on Thursday dismissed bond insurer MBIA Inc.'s lawsuit alleging that a Dutch bank improperly sold a chunk of securities underlying a $1 billion collateralized debt obligation after the parties agreed to drop the case.

U.S. District Judge Richard J. Sullivan signed the parties' stipulation of dismissal with prejudice five months after he refused to rule totally in favor of either MBIA or Cooperatieve Centrale Raiffeisen-Boerenleenbank BA, known as Rabobank, on a notice claim, though he dismissed the bond insurer’s claim that...
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