Federal Judge Sends Clear Channel Case Back To Texas State Court
April 2, 2008 at 5:53 PM (PT)
CLEAR CHANNEL gets a win in federal court, as Judge ORLANDO GARCIA rules that the lawsuit by the company and its buyers against the banks over financing problems should be heard in TEXAS state court. GARCIA made his decision late WEDNESDAY (4/2).
The lenders, CITIGROUP, DEUTSCHE BANK, MORGAN STANLEY, CREDIT SUISSE, ROYAL BANK OF SCOTLAND, and WACHOVIA, had moved to have the case heard in federal court, but GARCIA's ruling moves the case back to the state court in BEXAR COUNTY, TX, home county of CLEAR CHANNEL.