Panel Modifies Order Granting Judgment In $228M Insurer-Backed Securities Suit

( October 22, 2026, 10:10 AM EDT) -- NEW YORK — A New York appellate court modified a lower court order to grant summary judgment and dismissed claims against defendants except the original issuers of $228 million in preferred securities whose source of payment was insurance company subsidiaries, finding in part that there is no contractual basis to impose liability on certain successors....

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