Merrill Lynch & Co In said Wednesday that it filed a lawsuit against XL Capital Assurance Inc.
Merrill said it filed the suit to make clear that XL Capital Assurance, a unit of Security Capital Assurance Ltd , is required to meet its contractual obligations for credit default swaps.
The brokerage is seeking a court order that each of the credit default swaps remains in full force and effect.
(Reporting by Chris Reiter, editing by Gerald E. McCormick/Andre Grenon)
Topics Lawsuits
Was this article valuable?
Here are more articles you may enjoy.
Insurance Industry ‘Megadeals’ Dominate 2025, Says PwC 
Underwriter, Actuary Fears of AI Drop; Work Needed on Collaboration 
AIG Partners With Amwins, Blackstone to Launch Lloyd’s Syndicate Using Palantir 
Waymos Froze, Blocked Traffic During San Francisco Power Outage 
