CHICAGO -- Bondholders of defaulted Chicago-Calumet Skyway debt lost their latest round of litigation earlier this month when a federal judge ruled against their claim that the city of Chicago breached its fiduciary duty by allowing employee thefts of toll revenues.

However, Chief Judge James Moran of the U.S. District Court in Chicago left open a second bondholder claim that the city also breached its duty by depositing skyway revenues in non-interest bearing accounts.

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