The testiness between guaranty insurer MBIA and a group of banks over insurance coverage of structured financial instruments got more personal as each side accused the other of wrongdoing in court.
Bond-insurer MBIA Insurance Corp. won a significant victory in New York Supreme Court against Countrywide Home Loans when a judge ruled that MBIA only needs to show misrepresentation by Countrywide, rather than directly linking those misrepresentations to financial securitization losses.
The end of 2011 is upon us, which can only mean one thing: Its time for NU to assemble its annual list of the Top 10 stories of the year. With such a high number of news events to consider as legitimate candidates, deciding on the final lineup was a...
Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.
Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.