"The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing." The bank asked Bransten to order MBIA to explain why a protective order against the deposition shouldn't...

Amidst a somewhat sluggish economic environment, Morgan Stanley has cleverly grown through acquisitions. Furthermore, the company's decision to finally resolve a 2-year-old legal war with MBIA means that it would be able to comply with newly introduced...

Brian Moynihan to participate in a deposition related to a mortgage lawsuit, according to Bloomberg. The news agency on Thursday reported Charlotte-based BofA (NYSE: BAC) asked a judge this week to issue a protective order preventing Moynihan from any...

Bank of America spokesman Lawrence Grayson said in a statement to Bloomberg. “The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing.” The contentious MBIA suit is...

The company has accused BofA acquisition Countrywide Financial of making riskier than advertised home loans that were then packaged into securities and insured by MBIA. When some of the loans defaulted, MBIA had to pay. The contentious MBIA suit is...

Bank of America spokesman Lawrence Grayson said in a statement to Bloomberg. “The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing.” The contentious MBIA suit is...

The insurer made its claim in a letter on Wednesday sent to New York State Supreme Court Justice Eileen Bransten seeking to force Countrywide to turn over a variety of documents. Countrywide replied on Thursday that MBIA’s [ MBI 11.58 -0.06 (-0.52%) ]...

The insurer made its claim in a letter on Wednesday sent to New York State Supreme Court Justice Eileen Bransten seeking to force Countrywide to turn over a variety of documents. By the way, here's what the courts have ruled as to what constitutes...

Bank of America spokesman Lawrence Grayson said in a statement to Bloomberg. “The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing.” The contentious MBIA suit is...

MBIA shares fell 4 cents to $11.64. The cases is MBIA Insurance Corp v. Countrywide Home Loans Inc et al, New York State Supreme Court, New York County, No. 602825/2008.

Countrywide appears determined to withhold this evidence from MBIA despite its clear relevance to several of MBIA's claims." The request came after Countrywide produced what MBIA called an "incomplete" set of loan records backing MBIA-insured...

The proposed order to show cause asks Bransten to order MBIA to explain why a protective order against the deposition shouldn’t be issued. The motion for the protective order wasn’t immediately available in court records. MBIA, which sued Countrywide...

The proposed order to show cause asks Bransten to order MBIA to explain why a protective order against the deposition shouldn’t be issued. The motion for the protective order wasn’t immediately available in court records. MBIA, which sued Countrywide...

MBIA wants the discovery to prepare for a final round of summary judgment motions, which are due in April. As you surely recall, Bransten issued rulings in January that paved the way for MBIA to recover on its insurance-law fraud and breach-of-contract...

[4] Judge Bransten also ruled the insurer can seek damages against Bank of America if it can prove it there were misrepresentations by the bank and that MBIA would not have written the insurance if the misrepresentations had not been made. Bank of...

State Supreme Court on Monday. MBIA has accused Bank of America’s Countrywide home loan unit of fraud and breach of contract related to 15 mortgage securities. On Jan. 3, New York State Supreme Court Justice Eileen Bransten ruled MBIA does not need to...

MBIA filed its cross-appeal in New York State Supreme Court on Monday. MBIA has accused Bank of America's Countrywide home loan unit of fraud and breach of contract related to 15 mortgage securities. On Jan. 3, New York State Supreme Court Justice...

Bransten ruled MBIA does not need to prove claims payments it has made on the securities were a direct result of the alleged misrepresentations. Judge Bransten also ruled the insurer can seek damages against Bank of America if it can prove it there were...

In reality all this action will do is provide a benefit for private plaintiffs against banks like Bank of America, such as MBIA, whose case that banks have misrepresented terms of sold securities, will be strengthened. The ultimate cost, however to...