Eric Dinallo News
-
MBIA Inc. is no longer considered by credit-derivatives traders to be in distress after Bank of America Corp. agreed to a legal settlement that injects $1.6 billion of cash into the bond insurer and resolves five years of litigation stemming from the U.S. housing crisis.
-
MBIA Inc. and Bank of America Corp. settled a five-year legal battle over soured mortgage debt in a deal that will pay MBIA the equivalent of $1.7 billion and give the bank a 5 percent stake in the bond insurer. MBIA shares surged to the highest since September 2008.
-
Amazon.com Inc., the world’s biggest online retailer, and discount Internet seller Overstock.com Inc. lost a challenge to New York’s Internet sales tax law as the state’s highest court rejected their arguments that it was unconstitutional.
-
Bank of America Corp. and Societe Generale SA appealed a judge’s decision upholding regulatory approval of bond insurer MBIA Inc.’s 2009 restructuring, which they say harmed them as policyholders.
-
Lenders could lose $168 billion if banks sell loans into the Public-Private Investment Partnership at market prices instead of their balance-sheet valuation, Jamie McGee and Margaret Chadbourn of Bloomberg News report, citing estimates in regulatory filings.
-
MBIA Inc. defeated a lawsuit by Bank of America Corp. and Societe Generale SA that sought to reverse approval of the bond insurer’s $5 billion asset-transfer because it cut money available to cover their policy claims.
-
Eric Dinallo, the former New York insurance superintendent running to be the state’s attorney general, said the system of having debt issuers pay for credit ratings needs to be reformed.
-
The U.S. should provide bond insurers MBIA Inc. and Ambac Financial Group Inc. with capital so they can separate their municipal businesses from other operations, New York State Insurance Superintendent Eric Dinallo said.
-
MBIA Inc. hid potential losses of as much as $950 million on commercial real estate debt as it sought New York regulators’ approval to restructure its insurance business in 2008, banks including Bank of America Corp. and UBS AG claimed in court papers.
-
Bank of America Corp.’s effort with Societe Generale SA to reverse New York’s approval of MBIA Inc.’s 2009 restructuring is being considered by a judge after the conclusion of a four-week trial over the transaction.
|
|
Most Popular on Bloomberg
|
| |
Rate this Page