NEW YORK (Reuters) – Bank of America Corp and Societe Generale on Tuesday will begin opening arguments in a New York State courtroom to overturn the 2009 restructuring of bond insurer MBIA Inc.

The banks are the only two plaintiffs remaining of 18 that sued MBIA and then-New York state Insurance Commissioner Eric Dinallo in 2009. They will try to convince a judge that the state insurance department abused its discretion when it approved MBIA’s restructuring.

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