Bondholders sue MBIA over public finance/SF break-up

Holders of bonds guaranteed by MBIA have filed a class action lawsuit against the monoline insurer because of its business restructuring, requesting a trial by jury.

  • 13 Mar 2009
"This action arises out of a massive fraudulent conveyance transaction engaged in by the MBIA defendants in breach of their covenant of good faith and fair dealing with their financial guarantee policyholders," alleges the suit, lodged with New York’s southern district court by Aurelius Capital Master, Aurelius Capital ...

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