After four years of uncertainty, MBIA Inc.’s public finance subsidiary is one step closer re-entering the municipal bond insurance marketplace.

New York Supreme Court Justice Barbara Kapnick on Monday dismissed the lawsuit brought by a group of banks against MBIA Inc. over its 2009 restructuring, which created National Public Finance Guarantee Corporation and transferred $5 billion to that unit from its sister company, MBIA Insurance Corp.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.