European bank Depfa Bank threatens default on loans involving school districts in Kimberly, Kenosha, Waukesha, West Allis-West Milwaukee and Whitefish

By Jim Collar • Post-Crescent staff writer • January 27, 2010

Five Wisconsin school districts including Kimberly will learn this week whether their $200 million lawsuit over failed investments has the merits to continue.

Meanwhile, the European bank that lent $165 million of that money is ramping up pressure to bring the districts back into compliance with the terms of their borrowing agreement.

Depfa Bank recently threatened actions, including default, against the districts after they declined a meeting to discuss potential settlements.

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