Patrick McGee

Defunct bond insurer Syncora Guarantee Inc. last week reported positive net income for the second quarter, reflecting the broad success of the major restructuring it initiated in July 2009 and completed in April.

The New York Supreme Court on Monday denied Credit Suisse Securities’ motion to dismiss MBIA Insurance Corp.’s claims of mortgage-related fraud and breach of contract.

MBIA Inc. chief executive officer Jay Brown told investors Tuesday that the past two and a half years have proven the durability of his company’s balance sheet. Ambac Financial Group, by contrast, continued to warn that it may seek bankruptcy protection as early as 2011.

Insurance holding company Ambac Financial Group reported a net loss in the second quarter, despite big gains in the value of its insured derivatives, and warned that it may be unable to pay its debts in a year.

Insurance holding company MBIA Inc. on Monday reported net income of $1.3 billion in the second quarter, but the huge advance reflects mark-to-market gains on insured credit derivatives rather than new business.

U.S. Bancorp. continues to grow its municipal bond platform with the recent addition of Tim McKeon, who is charged with expanding the bank’s ability to ­provide issuers with liquidity and debt solutions.

Assured Guaranty Ltd. told investors Friday that its strong second-quarter earnings demonstrate that it is beginning to recover from the after-effects of the recession and financial crisis.

Assured Guaranty Ltd. late Thursday posted second-quarter earnings that were the insurer’s best since its initial public offering in 2004. The company recorded net income earnings of $203.5 million versus a net loss of $170 million for the same period one year ago.

FGIC Corp., the holding company of beleaguered bond insurer Financial Guaranty Insurance Co., announced Wednesday that it had filed for Chapter 11 bankruptcy protection.

California-based underwriter De La Rosa & Co. is filling a strategic seat on its team with the addition of municipal veteran Bradford Thiel, who is slated to join its sales and trading desk this month.

Andrew Garvey, head of capital markets banking at Cain Brothers, has departed the boutique firm after nearly three years, the investment bank confirmed Tuesday.

While Build America Bonds have limited the supply of tax-exempt issuance, strong demand from retail investors is also playing a vital role in lowering issuers’ borrowing costs to historic lows.

Issuance of Build America Bonds fell precipitously last month, but overall volume still managed to outpace market issuance in July 2009, according to preliminary data from Thomson Reuters.

Fairholme Capital Management’s motto is “Ignore the Crowd,” and the hedge fund is sticking close to that maxim with its roughly $200 million investment in MBIA Inc.

Wisconsin insurance commissioner Sean Dilweg has formed a nine-person council of advisers to support his efforts to rehabilitate Ambac Assurance Corp.

Linda D’Onofrio, a tax attorney with nearly 30 years experience in municipal finance, is joining the New England-based law firm Day Pitney LLP to help expand its operations in New York.

High-profile industry veteran Thomas Gallo joined the recently created municipal underwriting and sales team at U.S. Bancorp Investments, it was confirmed Monday.

Oakland-based underwriter Blaylock Robert Van LLC enlisted municipal industry veteran Robert Ceresa early last week in a move expected to be formally announced Monday.

Ambac Financial Group Inc. Friday completed the sale of RangeMark ­Financial Services, the advisory services company it helped launch.

Syncora Guarantee Inc. on Wednesday will begin paying insurance claims on regularly scheduled payment dates following the approval of its remediation plan by its regulator.