Another group of MBIA Insurance Corp. policyholders has filed a lawsuit against the insurer and its parent, alleging MBIA Inc.'s split of its public finance and structured finance books constitutes an "unlawful restructuring."

The plaintiffs - which include banks such as Citi, JPMorgan Chase, Bank of America, and Wachovia - say the restructuring "enriched" MBIA Inc. and its management at the expense of policyholders, according to the lawsuit filed in New York Supreme Court. The structured finance policyholders have been left with guarantees from an "effectively insolvent shell company," the lawsuit says.

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