Ambac, MBIA Get Jury Trials Revived Against Credit Suisse

Law360, Chicago (January 15, 2013, 5:53 PM EST) -- A New York appeals court on Tuesday reinstated Ambac Assurance Corp. and MBIA Insurance Corp.'s demands for jury trials on their separate fraud claims against Credit Suisse Group AG units over insurance payments on pools of mortgage-backed securities, saying waivers in their insurance agreements do not apply.

The Appellate Division of the New York State Supreme Court reversed the two orders state Judge Shirley Werner Kornreich entered in October 2011 striking Ambac and MBIA's jury trial demands. Both plaintiffs argued at a December hearing that those...
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