New York’s Suffolk County, home of eastern Long Island’s Hamptons beach towns, had $1.4 billion of general-obligation bonds cut to A from A+ by Fitch Ratings as the region recovers from Hurricane Sandy.
The owners of the New York Mets asked a judge to end a $386 million lawsuit by the Bernard Madoff brokerage trustee without a trial, saying at a hearing yesterday that he hasn’t proved his contention that they ignored the fraud because it benefited their business.
Bank of New York Mellon Corp., targeted by New York for allegedly violating state law while representing mortgage-bond investors, was accused by Knights of Columbus of damaging its investment in mortgage securities.
New York’s Suffolk County, home to Long Island’s Hamptons beach communities, is in a fiscal emergency after ending its budget year with a deficit for the first time in two decades, said its executive, Steve Bellone.
U.S. District Judge Jed Rakoff shouldn’t enable the liquidator of Bernard Madoff’s firm to appeal a ruling that cut a $1 billion case against the New York Mets owners by two-thirds, the team owners said.