In 2009, municipal bond insurer MBIA Inc.’s MBIA Insurance Corp. filed mortgage claims against lender Credit Suisse over property debt. Now, more than a decade later, the parties have agreed to settle. So reports Reuters.
MBIA said in a statement that the deal came after a post-trial ruling awarding it about $604 million.
MBIA said that Credit Suisse has paid it $600 million under the settlement and that following the settlement agreement the litigation has been dismissed.
Read the full article from Reuters.