Superdome Owner Tries To Revive $13M Insurance Suit

Law360, New York (March 9, 2011, 1:39 PM EST) -- Financial Guaranty Insurance Co. should return $13 million the Louisiana Superdome's owner spent on a policy because the insurer blew its credit rating by participating in credit-default swaps, a lawyer for the stadium owner told the Second Circuit on Wednesday.

The Louisiana Stadium and Exposition District's attorney, James R. Swanson of Fishman Haygood Phelps Walmsley Willis & Swanson LLP, argued before a panel in the U.S. Court of Appeals for the Second Circuit for the reversal of an order dismissing its case against Financial Guaranty....
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