Handing Kasowitz a Big Win, Judge Tosses Article 78 Case Over MBIA Restructuring

, The Litigation Daily


Litigation involving MBIA has been keeping investors on edge for four years now, as the bond insurer wages war with the banks whose financial products it insured in the run-up to the economic crisis. It's also generated some wrenching reversals of fortune for the lead lawyers battling over MBIA's 2009 restructuring, which the banks say allowed the company to shirk its obligations to structured finance policyholders.

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