City Colleges of Chicago wins lawsuit; Westcap ordered to pay out $56 million

Ward, Andrew
October 1997
Bond Buyer;10/08/97, Vol. 322 Issue 30247, p3
Trade Publication
Reports on a federal court ruling ordering defunct securities firm Westcap Enterprises L.P. to pay $56 million to the City Colleges of Chicago in Illinois for steering the system into a series of risky derivative investments. City Colleges of Chicago's plans to sue accounting firms Arthur Andersen and Coopers & Lybrand for alleged failure to alert it to the risky investments.


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