MBIA Sued Over Restructuring

March 2009
National Mortgage News;3/23/2009, Vol. 33 Issue 25, p15
Trade Publication
The article reports that bond insurer MBIA Insurance Corp. faces a suit filed by various financial service companies in New York's Southern Federal District Court. Allegation states that the insurers decision to split its mortgage and other structured finance exposures from its public finance obligations hurts its ability to meet its obligations to policyholders. It added that its actions in restructuring were approved by the state Insurance Department after a thorough examination.


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