ACA Financial Can't Quash Bond Dispute In Miss.

Law360, Los Angeles (May 10, 2013, 5:19 PM ET) -- A Mississippi federal judge on Thursday denied a bid to dismiss an ACA Financial Guaranty Corp. policyholder's putative class action over the insurer's refusal to pay for previously covered bonds, saying he's awaiting a New York state appeals court's ruling in a related dispute.

U.S. District Judge Michael P. Mills declined to decide whether ACA must pay for toll road revenue bonds from an issuer that went broke in July 2011, until the New York court finishes considering ACA's argument that a bankruptcy court's cancelation of...
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