I haven’t seen a story about this in the print edition for whatever the reason. A state district court judge on Tuesday ruled that the Harris County-Houston Sports Authority cannot be sued by the company that insures the $1 billion in debt that the agency services on local sports stadiums. Bond insurer MBIA, with the [...]
Posts Tagged ‘MBIA’
Sports Authority gets sued
MBIA, the company that insures the Harris County-Houston Sports Authority’s bonds, has filed a lawsuit to force the Sports Authority to collect more money to pay its obligations. If MBIA must cover payment shortfalls and cannot reimburse itself from the authority’s reserves, the amount owed to the insurer will accumulate with interest. In such a [...]
The Sports Authority’s finances are back in the news
I still have no idea whether this is something we need to worry about or not. The firm that insures the Harris County-Houston Sports Authority’s $1 billion in bonds – sold to finance the homes of the Texans, Rockets and Astros – is calling on the cash-strapped authority to bolster its depleted reserves and warning [...]