In ABN AMRO Bank, N.V. v. MBIA Inc. (17 NY3d 208, 952 N.E.2d 463, 928 N.Y.S.2d 647 [2011]), the Court of Appeals found that the breach of contract claims were validly stated, not in spite of a contingency, but because, "by fraudulently transferring billions of dollars of its assets to MBIA Inc. for no consideration," MBIA Insurance Corporation "violated the covenant by substantially reducing the likelihood that it will be able to meet its obligations under the terms of the insurance policies" (id. at 228.) The Court found that the complaint alleged an actual breach of the implied covenant of good faith and fair dealing.