The trustee for $32 million of defaulted bonds that Platte County, Missouri put its appropriation pledge behind wants the Missouri Supreme Court to have the last word on whether the county bears legal responsibility for repayment. UMB Bank NA has so far failed to persuade courts of its position that the financing agreement tied to the bonds require the county to make up pledged revenue shortfalls. The trustee on Wednesday filed a motion seeking a rehearing with the Court of Appeals and also asked for transfer of the case to state’s high court, according to court filings.
Source: The Bond Buyer
