Affiliated Computer Sues Trustee Over Default Dispute

Law360, New York (September 28, 2006, 12:00 AM EDT) -- Affiliated Computer Services has launched a lawsuit against the Bank of New York Trust Co. N.A. after the IT services company received notice that it was allegedly in default of certain bonds.

The company said Wednesday it received a letter from senior noteholders claiming that as of Sept. 13, Affiliated Computer had failed to submit a 10-K financial report with the SEC for the fiscal year ending June 2006, and, as a result, had defaulted under the terms of the bond offering.

The letter, received last...
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