A federal judge on Tuesday released details of a June court decision that requires XL Capital Assurance Inc. to honor seven credit default swaps with Merrill Lynch & Co.

U.S. federal Judge Jed Rakoff ruled that the swap agreements between Merrill and XLCA still granted the monoline voting rights on $3.1 billion of collateralized debt obligations - which the seven CDS provide protection on - even after Merrill entered into similar swap agreements with MBIA Insurance Corp.

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