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Real Estate & Property Law

: Housing Wire

MBIA Sued over Business Split

By DIANA GOLOBAY

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Monoline bond insurer MBIA faces a lawsuit by 18 financial firms over its decision to split its mortgage exposures off of its municipal-bond insurance portfolio. The allegations claim MBIA’s split and the resulting transfer of $5bn out of its main insurance business to a muni-bond insurance company constituted an unlawful effort to escape contractual obligations to [...]

Full post as published by Housing Wire on May 14, 2009 (boomark / email).

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