MBIA, Third Avenue Trust Agree To End Fraud Suit

Law360, New York (October 24, 2011, 6:03 PM EDT) -- Third Avenue Trust and insurer MBIA Inc. agreed Friday to end a suit in New York state court alleging MBIA subsidiaries defrauded debt holders in a corporate restructuring that split up the company's public finance and structured finance insurance units.

Both parties filed a stipulation discontinuing the case, with each party to bear its own costs. Further details were not immediately available, and attorneys for both parties could not be immediately reached for comment.

The case kicked off in April 2009, when two mutual funds managed...
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.