iHeartMedia's Suit Against Bondholders Moved From State To Federal Court

Losing Homecourt Advantage?

iHEARTMEDIA's suit against its bondholders over debt default notices issued by the creditors has been transferred from TEXAS state to federal court, reports the SAN ANTONIO EXPRESS-NEWS.

The suit, filed last JULY in BEXAR COUNTY district court, alleges that the bondholders cost the company the ability to promptly refinance some of its debt and increased the cost of restructuring; it is seeking damages between $100 million and $475 million.

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