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Tag Archives: Syncora Guarantee

US – City of Detroit sues for ‘improperly withheld’ casino cash

The City of Detroit has filed suit in Wayne County Circuit Court against Syncora Guarantee Inc. to recover up to $11m a month in casino revenues that the City believes are being improperly withheld due to Syncora’s conduct.  This threatens the City’s ongoing restructuring efforts. Wayne County Circuit Court Judge Annette Berry granted the city’s request for a temporary restraining…