Bond Insurer MBIA Settles Mortgage Case Against Credit Suisse

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.