News & Analysis as of

MBIA Insurance

Orrick - Finance 20/20

Summary Judgment Denied in Monoline Insurer Lawsuit Against J.P. Morgan

Orrick - Finance 20/20 on

On June 6, 2016, Justice Alan D. Scheinkman of the New York Supreme Court for Westchester County denied J.P. Morgan’s motion for summary judgment on MBIA’s fraudulent concealment claim. The court had previously granted...more

Orrick - Finance 20/20

MBIA Allowed to Pursue Fraudulent Inducement Claim Against J.P. Morgan

Orrick - Finance 20/20 on

On September 19, Justice Alan D. Scheinkman of the New York Supreme Court for Westchester County granted in part MBIA’s motion for leave to amend its complaint against J.P. Morgan in an action related to a Bear Stearns RMBS...more

Orrick - Finance 20/20

MBIA and Bank of America Settle MBS Litigation for $1.7 Billion

Orrick - Finance 20/20 on

On May 6, monoline insurer MBIA announced that it had reached a $1.7 billion settlement with Bank of America in connection with alleged fraud and breach of contract claims related to Countrywide-issued mortgage-backed...more

Orrick - Finance 20/20

MBIA and Flagstar Settle

On May 2, MBIA Insurance Corporation announced that it reached a settlement with Flagstar Bank in its lawsuit arising out of $1 billion in Flagstar-sponsored MBS that MBIA insured. MBIA sued Flagstar for breach of warranty...more

Orrick - Finance 20/20

Court Issues Summary Judgment Ruling in MBIA’s RMBS Action Against Countrywide

On April 29, Justice Eileen Bransten of the New York State Supreme Court issued an opinion granting in part and denying in part competing motions for summary judgment filed by MBIA and Countrywide in connection with tort and...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - May 6, 2013

On April 30, the FHFA issued its progress report on the steps being taken to establish a common securitization infrastructure for MBS. The FHFA is encouraging interested parties to provide written input on the progress...more

Orrick - Finance 20/20

New York Appellate Court Rejects MBIA’s Pursuit of Rescissory Damages

Orrick - Finance 20/20 on

On April 2, New York’s First Department appellate court ruled that MBIA Insurance Corporation may not obtain rescissory damages in its breach of contract action against Countrywide because MBIA had freely given up its right...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - April 8, 2013

UK Financial Services Regulatory Handover - On April 1, the long-awaited handover of power from the FSA to the "twin-peaks system," consisting of the Prudential Regulation Authority (PRA) and Financial Conduct Authority...more

Orrick - Finance 20/20

DC Circuit Affirms Dismissal of MBIA’s Claims Against FDIC in IndyMac Litigation

Orrick - Finance 20/20 on

On March 8, the United States Court of Appeals for the District of Columbia Circuit affirmed the district court’s dismissal of MBIA Insurance Corp.’s (MBIA) claims against the Federal Deposition Insurance Corp.’s (FDIC)...more

Orrick - Finance 20/20

MBIA Sues Flagstar Bank In Connection With Insurance Of $1 Billion in RMBS

Orrick - Finance 20/20 on

On January 11, monoline insurer MBIA Insurance Corp. sued Flagstar Bank and its affiliates for breach of contract in the United States District Court for the Southern District of New York....more

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