Cloudy
45.7 ° F
Full Weather
Sponsored By:

C.C.W.D. Seeks To Recover $1.5 Million From Lehman Bros. Collapse

Sponsored by:

San Andreas, CA — Not unlike Tuolumne County, the Calaveras County Water District is attempting to recoup almost $1.5 million lost in the collapse of Wall Street giant Lehman Bros.

CCWD Finance Director Jeffrey Meyer is in the process of filing a claim with the state of New York Bankruptcy Court.

Meyer says, “As far as the pecking order goes we´re in the upper third portion whenever they distribute whatever assets are out there. We´re senior unsecured debt so there will be a chance to get some money out of the Bankruptcy Court. However the final date for filing a claim is next July. I believer this process is going to take quite some time.”

The good news for CCWD; the agency also owned a $1.5 million bond with Citicorp that matured on Nov. 15 and that was paid in full two days later.

Written by Bill Johnson

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate
Feedback