Ambac, MBIA Seek Jury Trials In Credit Suisse Fraud Suits

Law360, New York (December 12, 2012, 5:44 PM EST) -- Insurers Ambac Assurance Corp. and MBIA Insurance Corp. asked a New York appeals court on Wednesday to reverse two lower court rulings denying jury trials for the companies' separate fraud claims against Credit Suisse Group AG units over insurance payments on pools of mortgage-backed securities.

Both companies argue that a jury trial waiver provision in their respective insurance agreements with Credit Suisse unit DLJ Mortgage Capital Inc. should not come into play and that they shouldn't have to specifically ask for the unwinding of the contracts...
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