5th Circuit Affirms Dismissal Of Claims Arising From Municipal Bonds Dispute

Mealey's (March 7, 2016, 9:49 AM EST) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on March 2 affirmed a lower federal court’s dismissal of breach of contract, bad faith and detrimental reliance claims in a dispute over whether an agreement between The City of New Orleans and a municipal bonds insurer obligated the insurer to retain its credit worthiness (New Orleans City v. Ambac Assurance Corp., et al., No. 15-30532, 5th Cir.; 2016 U.S. App. LEXIS 3960).

(Opinion available. Document #13-160317-007Z.)

Alleged Mismanagement

In 2000, the City of New Orleans...
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