Houston Astros Owner Balks at Jefferson County Debt Inquiry
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James R. Crane, owner of the Houston Astros baseball team, asked a judge to cancel an order requiring him to answer questions about a lawsuit he settled involving his investment in the debt of bankrupt Jefferson County, Alabama.
Crane doesn’t have any personal knowledge about JPMorgan Chase & Co.’s role in $3.2 billion in defaulted debt issued by Jefferson County’s sewer system, lawyers for the investor said in court papers filed today in U.S. Bankruptcy Court in Birmingham, Alabama. The county had won permission to question Crane under oath and to exam documents related to Crane’s lawsuit against New York-based JPMorgan.