Kevin Brown News
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MBIA Inc., the bond insurer that reached a $1.7 billion settlement with Bank of America Corp. this week, will pay $350 million to Societe Generale SA to resolve litigation, a person familiar with the matter said.
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MBIA Inc. failed to win a pretrial ruling against Bank of America Corp.’s Countrywide Financial unit in a lawsuit claiming the mortgage lender breached its obligations to buy back loans.
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There is no evidence to suggest any third party involvement in the death of Russian national Boris Berezovsky, whose body has been found at his U.K. home, police said.
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MBIA Inc., the bond insurer suing Bank of America Corp. to recover losses tied to mortgage loans, won an appeals court ruling that the lender could be required to repurchase securitized loans even if they aren’t in default.
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Boris Berezovsky, one of the first and best-known Russian oligarchs, who accumulated vast wealth and influence in post-communist Russia that he struggled in later years to retain, was found dead yesterday at his U.K. home. He was 67.
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The MBIA Inc. bond insurance unit created in 2009 to jumpstart the company’s municipal-debt guarantee business was cut three levels to junk by Standard & Poor’s.
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Elekta AB and Royal Philips Electronics NV won their first hospital contract to test a new type of radiation therapy machine designed to increase the accuracy of treatment and reduce the need for surgery.
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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.
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MBIA Inc. Chief Financial Officer Chuck Chaplin and Chief Operating Officer William Fallon each took home $6.2 million in pay last year, the bond insurer hobbled by soured mortgage debt said in a regulatory filing.
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