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MBIA Wants Radian Claims Sent To Arbitration

Law360 (April 16, 2009, 12:00 AM EDT) -- Bond insurer MBIA Inc. has asked a federal judge to dismiss or send to binding arbitration a declaratory judgment suit filed by Radian Insurance Inc. seeking to rescind or void insurance policies issued on mortgage-backed securities.

According to MBIA's motion, filed Wednesday in the U.S. District Court for the Eastern District of Pennsylvania, the policy agreed to by MBIA and Radian has a clause requiring that any disputes, other than declaratory disputes over the interpretation of the policy, be handled through binding arbitration. In fact, the...
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