Bank of America Corp.'s claims against MBIA Inc. over the bond insurer's 2009 restructuring are supported by an insurance regulator’s refusal to let MBIA make an interest payment, a lawyer for the bank said, Bloomberg News reported yesterday. The decision by New York’s Department of Financial Services, disclosed yesterday by MBIA, backs claims from Charlotte, N.C.-based Bank of America and Paris-based Societe Generale SA in litigation against the insurer, a lawyer for the banks said in a letter to state Justice Barbara Kapnick yesterday. The banks claim assets were improperly transferred out of MBIA Insurance, harming policyholders.
