A New York state judge has reinstated fraudulent inducement claims brought by Ambac Assurance Corp and MBIA Insurance Corp. against a unit of Credit Suisse Securities .

The New York state judge, Shirley Werner Kornreich reinstated the fraudulent inducement claim in an order filed Thursday in Ambac's suit to recover $46 million in insurance payments it made related to a mortgage-backed securities offering sponsored by the Credit Suisse unit.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.