COVER STORY

Modern Healthcare - - Modern Healthcare -

In the fall­out from the fi­nan­cial cri­sis, one Cal­i­for­nia hos­pi­tal is seek­ing a le­gal rem­edy. Tri-City Med­i­cal Cen­ter is su­ing its bank, in­surer and fi­nan­cial ad­viser over bonds the pub­lic hos­pi­tal is­sued in the auc­tion-rate mar­ket. The mar­ket prior to 2006 “had a risk that was be­ing ig­nored by the un­der­writ­ers and was un­known by the is­suers and the in­vestors,” says James Cox, left, a pro­fes­sor at Duke Uni­ver­sity Law School.

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