Insurer Standing Re. Fraud Claims Remains Uncertain

Law360, New York (October 24, 2007, 12:00 AM EDT) -- On September 18, the U.S. Court of Appeals for the 11th Circuit, in a case closely watched by bond insurers, other credit enhancers and issuers, conduit borrowers, and underwriters of insured or credit-enhanced debt, ruled that a bond insurer lacks standing to bring securities fraud claims in connection with the information on which it bases its decision to insure a municipal bond issue.

The appellate court’s opinion, which vacated the same judicial panel’s May 31, 2006 opinion in the same case that the bond insurer did...
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.