guaranty insurer

• MBIA & Banks Go To Trial

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 24, 2012

  After close to three years of legal wrangling, MBIA and a group of banks will finally fight it out in court come May 14 after a New York State judge set a date for trial.

• Ambac Files 2nd Suit Against JP Morgan over Alleged 'Bear Don't Care' Mentality on MBS

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 3, 2012

  Bond-insurer Ambac has filed a second suit against JP Morgan Chase Bank claiming the bank’s mortgage unit perpetrated a fraud by failing to follow proper underwriting guidelines and presenting poor-quality risks to the carrier.

• Fur Flies Between MBIA & Banks

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 13, 2012

  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.

• HSBC, Morgan Stanley Exit MBIA Litigation

  By Mark E. Ruquet, PropertyCasualty360.com  |  December 13, 2011

  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 insurer’s restructuring and accusations the banks fraudulently secured insurance coverage.

• Losses at Ambac Continue

  By Staff Writer  |  August 10, 2011

  Troubled guaranty insurer Ambac Financial Group Inc. reports its net loss increased by $45 million driven by several factors including lower net premiums.

• Ambac Surplus Note Payment On Hold

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 2, 2011

  Note holders will have to wait before they receive interest payments on the notes they were issued as part of a settlement with guaranty insurer Ambac as the Wisconsin Insurance Commissioner reviews the tax implications of such payments.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 25, 2011

  A group of banks seeking to prevent guaranty insurer MBIA Insurance Corp. from splitting into two companies says the company underestimated its losses by as much as $10 billion to the N.Y. State Insurance Dept.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 24, 2011

  A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

• Policyholders Sue Ambac For Transferring Funds

  By Mark E. Ruquet, PropertyCasualty360.com  |  August 31, 2010

  A group of policyholders sued Ambac Financial Group to prevent the corporation from taking funds from Ambac Assurance Corp. while it is in runoff.