ACA Financial Guaranty Corp. News

ACA Financial Sues Virginia City Over Muni Bond Default

The Blue Ridge mountain hamlet of Buena Vista, Virginia, is in danger of having its City Hall, police headquarters and municipal golf course seized for defaulting on its debt. The city, with 6,600 residents, has failed for more than a …

Va. City Could Face Foreclosure on City Hall Over Bond Debt, Insurer Says

An insurance company says Buena Vista, Virginia, could face foreclosure on its city hall and police department if a bond debt isn’t paid. The Roanoke Times reports that ACA Financial Guaranty Corp. sent a letter on Tuesday to City Council …

N.Y. Court Revives Bond Insurer’s $120M Lawsuit Against Goldman Sachs

New York’s top state court on Thursday revived a bond insurer’s $120 million lawsuit claiming Goldman Sachs Group Inc lied about a pool of securities backed by subprime mortgages during the period leading up the financial crisis. The New York …

ACA Financial Asks N.Y.’s Top Court to Revive Goldman Suit Over Abacus

ACA Financial Guaranty Corp. urged New York’s top court to reinstate a suit accusing Goldman Sachs Group Inc. of conspiring to force it to insure an investment that led to a $550 million settlement with regulators. Goldman failed to disclose …

Goldman Must Defend Bond Insurer’s Fraud Claims

Goldman Sachs Group Inc. must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly enrich itself. In …