The Royal Bank of Scotland Group Plc has withdrawn from two lawsuits filed by banks challenging the 2009 restructuring of MBIA Inc, once the world's largest bond insurer. The withdrawal, which was disclosed in a stipulation filed Friday in New York State Supreme Court in Manhattan, leaves a number of plaintiffs, including Bank of America Corp, BNP Paribas SA, HSBC Holdings Plc, Merrill Lynch, Morgan Stanley, Natixis SA, Societe Generale and UBS AG.
The filing did not include a reason for the withdrawal. The bank joined others that have left the litigation, including Wells Fargo, which withdrew from the lawsuits earlier this month.