Justices for the Court of Appeals for the State of New York peppered attorneys with questions for close to 45 minutes during a hearing on whether a group of banks can go ahead with a lawsuit against bond-insurer MBIA.
The lawsuit stems from a decision by the state's insurance department three years ago to split MBIA into two companies.
In response to questions from the justices, Attorney Robert L. Giuffra Jr. argued that previous court rulings have denied the plaintiffs their right to bring debtor and creditor claims against MBIA.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
