Banks' Appeal In Clear Channel Buyout Suit Denied

Law360, New York (April 17, 2008, 12:00 AM EDT) -- Clear Channel Communications Inc.’s dispute with a group of six banks, arising from the company’s buyout, is still headed to trial in June, after a Texas appellate court rejected the banks’ request to overturn a state court ruling on the matter.

In a short decision Wednesday, a three-judge panel of the Texas Fourth Court of Appeals rejected the banks’ motion seeking emergency relief and their petition for a writ on mandamus, ruling that the banks, led by Citigroup Global Markets Inc., “are not entitled to the...
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