Abn Amro Bank, N.v. v. Mbia Inc.

Summary

The New York Court of Appeals held that the Superintendent’s approval of MBIA Insurance’s 2009 restructuring does not bar policyholders from pursuing claims under the Debtor and Creditor Law and related common‑law theories, and that the plaintiffs’ pleadings sufficiently state those causes of action. The Court affirmed the modified order of the Appellate Division, while noting a dissent that would have precluded the plenary action.