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Settlement Reached with MBIA

 
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Settlement Reached with MBIA
04/02/2007

Royal Indemnity Company, a subsidiary of Arrowpoint Capital Corp., has reached a settlement with MBIA Insurance Corporation relating to the Student Finance Corporation litigation. Under the settlement, which was approved by the Court today, March 30, 2007, all claims by MBIA and Wells Fargo for recovery under policies issued by Royal in connection with Student Finance Corporation will be resolved. The settlement, the specifics of which are confidential, has no impact upon Royal Indemnity's ongoing mitigation efforts.