A bank's attempt to immediately collect $43 million on a loan could have a "devastating" impact on the presidential inauguration, according to a top Metro official.
Belgian bank KBC Group requested the money following the credit downgrade of insurance giant American International Group. AIG guaranteed a financing deal KBC made with Metro in 2002.
In federal court Wednesday, the bank said it is seeking the money immediately to protect its shareholders.
Metro is seeking an injunction against the bank while trying to get the federal government to back the deal in place of AIG.
Metro's chief financial officer testified that KBC's demands could prompt other banks to collect on similar deals. That would cripple Metro financially as it prepares for the tens of thousands of riders expected for the Jan. 20 inauguration.
