Legal Opinion
New Orleans City v. AMBAC Assurance Corporation, e
Court of Appeals for the Fifth Circuit
Decided March 2, 2016No. 15-30532PublishedCited by 27 opinions
1Opinion of the Court
EDITH BROWN CLEMENT, Circuit Judge:
To help fund a pension plan for firefighters, the City of New Orleans (“the City”) decided to issue municipal bonds in December 2000. City officials enlisted the help of an accounting firm, three law firms, and a financial advisory firm to consult in the bond issuance. At the time, the City’s credit rating was just above “junk” status. 1 The City contracted with Ambac Assurance Corporation (“Ambac”) 2 to provide municipal bond insurance. The City paid Ambac a nonrefundable, up-front premium of $6,388,658.80 for the Municipal Bond Insurance Policy (the…
2Cases cited9 opinions
- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- In Re Katrina Canal Breaches LitigationCourt of Appeals for the Fifth Circuit · 2007
- Suire v. Lafayette City-Parish GovernmentSupreme Court of Louisiana · 2005
- Drs. Bethea, Moustoukas & Weaver LLC v. St. Paul Guardian InsuranceCourt of Appeals for the Fifth Circuit · 2004
- Scott v. Bank of CoushattaSupreme Court of Louisiana · 1987
4 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Louis Koerner, Jr. v. Vigilant Insurance CompanyCourt of Appeals for the Fifth Circuit · 2018
- Simms v. Local 1752, International Longshoremen Ass'nCourt of Appeals for the Fifth Circuit · 2016
- Fill It Up, LLC v. MS LZ Delta, LLCDistrict Court, N.D. Mississippi · 2018
- Yor-Wic Constr. Co. v. Eng'g Design Techs., Inc.District Court, W.D. Louisiana · 2018
- Arc Controls, Inc. v. M/V Nor GoliathDistrict Court, S.D. Mississippi · 2020
22 more not listed; retrieve them via the Exa API.