BofA, SocGen Appeal Judge's OK For MBIA's $5B Breakup

Law360, New York (March 29, 2013, 6:38 PM EDT) -- Bank of America Corp. and Societe Generale SA on Thursday appealed a New York state judge's refusal to overturn state regulators' approval of monoline insurer MBIA Inc.'s $5 billion restructuring, arguing that it encourages the "unscrupulous" to lie to state regulators. 

The two banks said that Judge Barbara R. Kapnick shouldn't have upheld the 2009 restructuring in a March 4 ruling, arguing that it didn't make sense to prevent the banks from challenging it even though MBIA had admitted that it had given the New York...
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