Judge Puts MBIA Restructuring Trial On Tight Leash

Law360, New York (April 20, 2012, 3:53 PM EDT) -- A New York state judge on Friday sharply limited the scope of an upcoming trial in which Bank of America Corp. and others are challenging the state insurance regulator's 2009 approval of the $5 billion restructuring of embattled bond insurer MBIA Inc.

Judge Barbara R. Kapnick said the trial will focus only on the narrow issue of whether the state's insurance regulators were right to approve the transaction — which the banks say left MBIA without enough money to pay out claims on complex securities it...
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