MBIA Asks Texas Appeals Court To Revive $1B Bond Suit

Law360, Houston (June 10, 2013, 4:45 PM EDT) -- MBIA Inc. subsidiaries told a Texas appeals court Thursday that a trial court had ignored Harris County's contracts when it ruled the county could not be sued for allegedly making improper insurance claims to service $1 billion in construction debt on Houston's sports venues.

In a brief filed with the First District Court of Appeals, MBIA Insurance Corp. and National Public Finance Guarantee Corp. argue that they are beneficiaries of deals the Harris County – Houston Sports Authority and the Harris County Sports and Convention Corp....
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