Heartland Holdings Inc. v. US Trust Company of Texas

Appellate victory for Indenture Trustee in Connection With Municipal Bond Offering


In Heartland Holdings, Inc. v. U.S. Trust Company of Texas, the Fourteenth Court of Appeals in Houston, Texas affirmed the summary judgment granted by the 281st Judicial District Court in Harris County, Texas in favor of the Indenture Trustee. The court held that municipal bond owners who held Heritage Bonds in street name lacked standing to bring suit against the Indenture Trustee for breach of contract.

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Published In: General Business Updates, Finance & Banking Updates, Securities Updates

Reference Info:Decision | State, 5th Circuit, Texas | United States