A hedge fund that filed a lawsuit seeking to have $14.3 billion of Illinois bonds invalidated in court stands to reap enormous profit if the case succeeds and the state defaults on the debt, Nuveen Asset Management LLC and AllianceBernstein LP alleged in court filings. New York City-based Warlander Asset Management purchased credit-default swaps that will pay off if the lawsuit causes a default, according to Nuveen and AllianceBernstein, which own about $2 billion of Illinois bonds, including those challenged in the case. Jonathan Gasthalter, a Warlander spokesman, didn’t immediately respond to a request for comment.