HSBC Scores Docs On $1B Settlement From Insurer CIFG

Law360, New York (March 5, 2012, 5:08 PM EST) -- CIFG Assurance North America Inc. will have to hand some documents tied to a $1.3 billion debt instrument insurance settlement over to HSBC Bank USA NA, which allegedly owes $14 million under the deal, a New York federal judge ruled Monday.

CIFG had challenged HSBC's request for documents detailing CIFG's transactions and settlement agreements with third parties over an insurance policy that covered promissory notes issued by Duke Funding IV Ltd. and Duke Funding IV Inc. in 2003. The insurer argued the request was broad and...
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