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Posts Tagged ‘MBIA’

MBIA appeals lawsuit dismissal

Here’s the brief that MBIA has filed with the First District Court of Appeals to overturn the dismissal of their lawsuit against the Harris County-Houston Sports Authority and the Harris County Sports & Convention Corporation. The issues presented for review are pretty straightforward: 1. The Sports Authority was authorized to waive its purported governmental immunity […]

Someone attempted to do something about MBIA and the Sports Authority

And others expressed their disapproval about it. What the “it” is, and who it was that was trying to do “it” remain unclear. A surprise legislative maneuver has local government lobbyists scrambling to defend the agency that pays the debt on Houston’s sports stadiums against an alleged takeover attempt by the company that insures its […]

MBIA lawsuit against Sports Authority dismissed

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 […]

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 […]