Alabama

Alabama Gov. Bob Riley signed an executive order last week capping compensation for lawyers representing the state just hours before Attorney General Troy King filed two lawsuits against BP PLC and other companies for negligence in the Gulf oil disaster.

BRADENTON, Fla. — Alabama Attorney General Troy King late Thursday filed lawsuits against BP PLC and BP America Inc. as well as drilling contractor Transocean Ltd. and related companies for their roles in the catastrophic oil spill in the Gulf of Mexico.

BRADENTON, Fla. — Former Birmingham Mayor and Jefferson County commissioner Larry Langford said Wednesday that his conviction should be reversed, mail fraud counts against him dismissed due to insufficient evidence, and he should be given a new trial.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

A federal judge in Birmingham last week denied motions filed by two former JPMorgan bankers to dismiss a Securities and Exchange Commission suit that alleges they committed securities fraud in connection with municipal bond and swap transactions with Jefferson County, Ala.

BRADENTON, Fla. — Former Jefferson County commissioner Gary White has become the latest of nearly two dozen people and companies in Alabama convicted for corruption involving the county’s debt-clogged sewer system.

BRADENTON, Fla. — The Securities and Exchange Commission is seeking a summary judgment against former Jefferson County, Ala., commissioner Larry Langford on three counts of violating the federal Securities Act.

BRADENTON, Fla. — Based on settlements recommended by the Securities and Exchange Commission, a federal judge in Alabama has issued permanent injunctions prohibiting future violations of securities laws by Montgomery bond dealer William Blount and his firm, Blount Parrish & Co., and local lobbyist Al LaPierre.

BRADENTON, Fla. — An Alabama judge has set Sept. 7 for trial to begin in the Bank of New York Mellon's quest to obtain a receiver to take over control of Jefferson County's sewer system, which is saddled with close to $3.2 billion of troubled variable- and auction-rate debt.

Assured Guaranty last week filed a civil suit in New York alleging that JPMorgan, along with Jefferson County, "fraudulently induced" it to provide more than $378 million in insurance coverage for the county's nearly $3.2 billion of variable- and auction-rate sewer warrants.

Former Jefferson County commissioner Larry Langford has lost another bid to remain free while appealing his corruption conviction on pay-to-play charges related to the county's failed sewer warrants.

BRADENTON, Fla. — After a more than two-year search, Jefferson County, Ala., has hired its first chief financial ­officer.

BRADENTON, Fla. — Moody’s Investors Service yesterday said the Deepwater Horizon oil spill may ultimately result in negative credit impacts on state and local governments in Louisiana, Mississippi, Alabama, and Florida.

BRADENTON, Fla. — The federal judge presiding over the Alabama ­Public School and College Authority’s case that attempts to void a swaption with ­JPMorgan has agreed with a joint request to delay the trial more than four months.

BRADENTON, Fla. — Syncora Guarantee Inc. has filed a civil suit alleging that Jefferson County, Ala., and JPMorgan “fraudulently induced” it to provide more than $1 billion in insurance coverage for the county’s nearly $3.2 billion of variable- and auction-rate sewer warrants.

BRADENTON, Fla. — The Securities and Exchange Commission on Monday filed a motion in Alabama federal court announcing that it had reached proposed settlements in the civil securities fraud case against Montgomery bond dealer William Blount and his firm, Blount Parrish & Co., and local lobbyist Al LaPierre.

BRADENTON, Fla. — Birmingham, Ala., plans to use recovery zone economic development bonds in a “creative” way, according to city officials.

BRADENTON, Fla. — While former Jefferson County, Ala., Commission president Larry Langford must report to federal prison tomorrow to begin serving his 15-year sentence on pay-to-play charges, things could get worse for the 63-year-old dethroned Birmingham mayor.

BRADENTON, Fla. — A federal judge in Alabama has denied former Jefferson County Commission president and Birmingham mayor Larry Langford’s request to remain free on bond while appealing his federal conviction on pay-to-play charges.

BRADENTON, Fla. — Standard & Poor’s Tuesday said it removed Jefferson County, Ala.’s sewer and general obligation warrants from negative credit watch. The agency affirmed its C rating on the sewer warrants with a negative outlook and its B rating on the GOs with a “developing” outlook.