Trustee Objects To Massive Claims Against SFC

Law360, New York (January 17, 2008, 12:00 AM EST) -- A U.S. trustee has objected to a pair of claims totaling nearly $1 billion against bankrupt loan company Student Finance Corp., saying the investors on whose behalf the claims were originally filed have already been paid in full.

In court documents filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware, SFC's Chapter 7 Trustee Charles A. Stanziale Jr. took issue with a $468 million claim filed by MBIA Inc. and a $466 million claim filed by Wells Fargo Bank NA.

“To the extent...
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