Bankruptcy

WASHINGTON — This month is a significant milestone for the Municipal Securities Rulemaking Board, marking its one-year anniversary as the sole official repository for muni issuers’ continuing disclosure documents.

The New York Stock Exchange once again notified Ambac Financial Group that it could be de-listed for failing to maintain a minimum share value of $1.00 for a 30-day period, the company announced Tuesday.

The insolvent city of Central Falls repaid $4.1 million of tax anticipation notes on time last week, Rhode Island officials said.

ALAMEDA, Calif. — California this week selected a group led by Meridiam Infrastructure to be its preferred partner for the state’s first public-private partnership for a courthouse.

Harrisburg Friday may select qualified financial advisers to participate in a request for proposal process, as Pennsylvania’s capital city looks towards addressing $282 million of outstanding incinerator debt that is in technical ­default.

WASHINGTON — The Securities and Exchange Commission on Wednesday unanimously adopted rules designed to prevent investment advisers from making political contributions to elected officials to obtain business from state and local pension funds, investment pools and college savings accounts.

Former Alabama Gov. Don Siegelman’s appeal of his corruption conviction will be reviewed by the 11th Circuit Court of Appeals based on last week’s decision by the U.S. Supreme Court narrowing the focus of the “honest services fraud” criminal statute.

WASHINGTON — Federal regulators would spend months, if not years, implementing the sweeping changes to the municipal market that were outlined in the financial regulatory reform legislation finalized by House and Senate negotiators late last week.

New York State will pick up the debt-service tab for North General Hospital, which plans to file for bankruptcy, officials said Monday.

The mayor of Allentown, Pa., says he’s been sitting down with union leaders to rework its labor agreements in a bid to keep the financially troubled city out of Act 47 — the state’s distressed municipalities program.

WASHINGTON — Financial regulatory reform legislation that House and Senate lawmakers hope will be ready for President Obama's signature at the end of the week is expected to authorize sweeping changes to the way the municipal market is regulated.

WASHINGTON — The U.S. Court of Appeals for the Fourth Circuit last week ruled in favor of Prince George's County, Md., and its 2008 plan to furlough about 5,900 workers, overturning a lower federal court ruling and restoring a savings opportunity for the triple-A rated county.

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.

The New York Court of Appeals ruled last week that the state can seize private property on behalf of Columbia University, which wants to expand its campus into Harlem.

Morgan Stanley will pay $42.5 million to Massachusetts' pension funds and its general fund in a settlement agreement regarding the financing and securitization of subprime loans in the state.

WASHINGTON — The Connector 2000 Association Inc., the troubled South Carolina toll road that went into default on Jan. 1, filed for bankruptcy on Thursday.

WASHINGTON — The Supreme Court yesterday ruled that “honest services” fraud — a criminal statute that has been used to prosecute wrongdoing in the municipal market — is limited to bribery and kickback schemes.

The Municipal Securities Rulemaking Board launched a redesigned website this week with new content and features, better navigation, and a contemporary style that aims to provide improved access to information about MSRB rules, market disclosures, and data collected and disseminated by the board.

WASHINGTON — The inclusion of a free, real-time feed of municipal bond ratings on the Electronic Municipal Market Access system has long been a goal of the Municipal Securities Rulemaking Board, which operates the disclosure and transparency portal.

U.S. attorneys last week filed a motion to dismiss the federal lawsuit filed in March by Florida Attorney General Bill McCollum challenging the massive health care reform bill.