Second lawsuit over name in Armstrong credit swap
LONDON -- A second lawsuit is underway over the misnaming of a company in a credit default swap linked to Armstrong World Industries Inc, which filed for Chapter 11 bankruptcy protection in US courts in December.
Swiss Re Financial Products Corp, a subsidiary of the Swiss Re insurance group, has filed a case in the English high court against XL Insurance, a unit of XL Capital of Bermuda. It is charging XL with refusing to pay on a credit default agreement.
Swiss Re FP bought $20 million of credit
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