Syncora Guarantee Inc., an opponent of Detroit’s municipal debt-adjustment plan, saw a legal strategy backfire when a judge ruled that the company made “scandalous and defamatory” allegations about the local chief U.S. district judge and mediator in the city’s bankruptcy. …
Assured Guaranty Ltd. and JPMorgan Chase & Co. agreed to settle lawsuits filed by the bond insurer accusing the bank’s EMC Mortgage and Bear Stearns units of making misrepresentations about mortgage-backed securities. Assured Guaranty Corp., a New York-based unit of …
This week, Rhode Island lawmakers are negotiating the final details of the state’s $8.2 billion budget. One controversial part of the discussion has been what Rhode Island should do with the state’s failed investment in 38 Studios, a video game …
Rhode Island’s Republican Party chairman has joined the call for the state to default on the money it owes for its failed investment in former Red Sox pitcher Curt Schilling’s bankrupt video game company. Mark Smiley said Tuesday that taxpayers …
Protesters unhappy with Rhode Island’s failed investment in former Red Sox pitcher Curt Schilling’s video game company urged state leaders last week to default on the money the state owes for the deal. Supporters of defaulting on the 38 Studios …
Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer’s effort to emerge from bankruptcy. The settlement calls for $1.9 million …
Ambac Financial Group Inc., the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & Co. to recover losses on securities it insured that were made by a unit of the former Bear …
UBS AG has agreed to settle litigation against MBIA Inc. that challenged the bond insurer’s 2009 restructuring, people familiar with the matter said on Thursday. The UBS settlement calls for credit-default swaps to be commuted in exchange for a cash …
A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky mortgage-backed securities. New York State …
A second bond company has reached a settlement in the state auditor’s investigation of former Alcorn County Supervisor Danny Crotts. RLI Insurance Co. has agreed to pay $31,809. The board of supervisors agreed to accept the payment. Travelers Insurance Co. …
