UBS Said To Agree To Settle Litigation Against MBIA Over Restructuring -Reuters
March 15 2012 - 12:18PM
Dow Jones News
Swiss bank UBS AG (UBSN.VX, UBS) has struck a legal settlement
with MBIA Inc. (MBI) over the bond insurer's 2009 business
restructuring, Reuters reported Thursday on its website, citing
people familiar with the matter.
Under terms of the agreement, credit default swaps are to be
commuted in exchange for a cash payment, sources said. No
additional details were reported.
MBIA split into two companies in 2009.
MBIA and UBS had no immediate comment to Reuters.
Full story at:
www.reuters.com/article/2012/03/15/mbia-ubs-idUSWEN371320120315
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