Bond insurer MBIA (MBI) has had its share of successes in court as it sues various financial firms on the grounds that it’s owed a recovery on claims the insurer paid out on mortgage-backed securities.

But the insurer was not as lucky in a suit against the Federal Deposit Insurance Corp.

MBIA alleged in court that the regulator refused to reimburse it for losses on MBS contracts that MBIA insured after IndyMac’s collapse.

However, the Washington D.C. Circuit court dismissed MBIA’s suit against FDIC last week, according to Law 360.