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MBIA INS. CORP. v. J.P. MORGAN SECURITIES, LLC

2014-10991, Index No. 64676/12.

144 A.D.3d 635 (2016)

2016 NY Slip Op 07162

41 N.Y.S.3d 506

MBIA INSURANCE CORPORATION, Respondent-Appellant, v. J.P. MORGAN SECURITIES, LLC, Formerly Known as BEAR, STEARNS & CO., INC., Appellant-Respondent.

Appellate Division of the Supreme Court of New York, Second Department.

Decided November 2, 2016.

Ordered that the order is affirmed insofar as appealed from; and it is further,

Ordered that the order is reversed insofar as cross-appealed from, on the law and in the exercise of discretion, that branch of the plaintiff's motion which was for leave to amend the complaint to assert a cause of action alleging material misrepresentation in the procurement of an insurance contract "brought under common law as informed by New York Insurance Law Section 3105" is granted...

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