Banks Don't Want Jury In $5B MBIA Restructuring Suit

Law360, New York (March 20, 2012, 4:26 PM EDT) -- Bank of America Corp., Societe Generale SA and other banks suing New York's insurance regulator over the $5 billion restructuring of bond insurer MBIA Inc. won't try their case before a jury, their attorney said Monday.

Instead, the case will be decided by New York state Judge Barbara R. Kapnick at a bench trial scheduled to begin in May, the banks' attorney, Robert J. Giuffra Jr. of Sullivan & Cromwell LLP, wrote in a letter to the court requesting a nonjury trial.

The move will "facilitate...
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