In an August 19, 2010 decision by Justice Scheinkman, plaintiff MBIA wrote credit default swap protection for RBC on a super-senior risk of pools of securities. In this action, MBIA claimed that it misunderstood the substantial risks it was insuring and which ultimately came to pass, that MBIA claims was produced by fraud on the part of RBC and its affiliates. Initially the action was removed to federal court, only later to be remanded. On remand, defendants moved to dismiss under CPLR 3211(a) (1) (7) and 3016. In considering the motions, which were denied in part, granted in part, the Court was faced with choice of law issues on the various claims—whether English or New York law applied. The Court also considered whether non-signatories to an agreement can be bound on a contractual claim, and whether sufficient documentary evidence existed so as to form a basis for dismissal. The Court also considered, pursuant to CPLR 3016, the sufficiency of the pleading as to the fraud-based claims. The Court ultimately denied in part, granted in part the motions to dismiss.