Merrill Lynch & Co In said Wednesday that it filed a lawsuit against XL Capital Assurance Inc.
Merrill said it filed the suit to make clear that XL Capital Assurance, a unit of Security Capital Assurance Ltd , is required to meet its contractual obligations for credit default swaps.
The brokerage is seeking a court order that each of the credit default swaps remains in full force and effect.
(Reporting by Chris Reiter, editing by Gerald E. McCormick/Andre Grenon)
Was this article valuable?
Here are more articles you may enjoy.
These Five Technologies Increase The Risk of Cyber Claims 
Credit Suisse Nazi Probe Reveals Fresh SS Ties, Senator Says 
Berkshire Utility Presses Wildfire Appeal With Billions at Stake 
Founder of Auto Parts Maker Charged With Fraud That Wiped Out Billions 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.