Mutual Benefit Life Insurance Co. has said it will let a New Jersey court lift a restraining order barring trustees from foreclosing on bond projects, if certain conditions are met.

The chief condition is that bond trustees and project developers agree to "release Mutual Benefit from any liability under its guarantee," according to an Aug. 26 memo by lawyers representing investors of some bonds backed by the insurer.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.