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After months of cutting quiet deals with banks in the high-stakes Manhattan state court litigation challenging its 2009 restructuring, MBIA Inc. reached a major settlement with Morgan Stanley on Tuesday. But for some of MBIA's Wall Street adversaries, the notion that MBIA had to rely on a loan to fund part of the settlement vindicates their claims that the insurer's restructuring was a fraud.
December 13, 2011 at 12:00 AM
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