Bankruptcy

A proposed new arena is closer to reality after another courtroom win on Tuesday.

All Aboard Florida moved a step closer to financing the first phase of its private passenger train project when the U.S. Department of Transportation approved AAF’s new application for $600 million of tax-exempt private activity bonds. PAB financing for the project’s second phase remains uncertain.

A request for state Supreme Court validation on $420 million of toll revenue bonds has sidelined the Oklahoma Turnpike Authority deal as rates rose in post-election investor uncertainty.

The California Supreme Court has agreed to hear an appeal of a landmark pension decision that analysts and reformers had hailed as a positive for the state and local governments.

Federal judge continues to block Maryland’s $5.6 billion Purple Line P3 rail project over ridership worries.

At the request of Jefferson County, Ala.’s bankruptcy attorneys, the 11th Circuit Court of Appeals set what appears to be a firm date to hear oral arguments on Dec. 16 in Atlanta.

Miami city commissioners will be asked Thursday to approve their first bond issue since a federal jury found the city guilty of violating securities fraud charges and paying a record $1 million settlement.

The judge hearing all the debt lawsuits in Puerto Rico’s federal court ordered continued stays in four cases.

Highland Park, Michigan says it shouldn’t be on the hook to repay $30 million to the Great Lakes Water Authority, saying they stem from overcharges related in part to a bond sale and forward swap losses.

Former Miami budget director Michael Boudreaux has been ruined financially fighting securities fraud charges and cannot pay a $450,000 civil penalty sought by the Securities and Exchange Commission, his attorney argued in a court filing Monday.

The finance committee of New York's MTA approved Loeb & Loeb LLP as outside counsel relating to the Penn Station renovation project.

Jeffrey Chiesa, a former U.S. senator, New Jersey attorney general and aide to Gov. Chris Christie, will lead the state's takeover of Atlantic City’s finances.

The Securities and Exchange Commission is seeking a $450,000 civil penalty against former Miami budget director Michael Boudreaux, who refused to reach a settlement after a jury found him guilty of securities fraud.

After seven postponements in the appeal of Jefferson County, Ala's bankruptcy case, the county's attorney requested that the chief judge of the 11th Circuit Court of Appeals schedule oral arguments as soon as possible.

An operator of bond-financed charter schools in California has filed for Chapter 11 bankruptcy.

New Jersey's Local Finance Board approved a state takeover of Atlantic City's finances.

The Fresno County, Calif. district attorney is investigating allegations that officials at Parlier Unified School District may have engaged in fraud, misappropriation of funds or other illegal activities.

A federal judge has granted a 30-day extension for All Aboard Florida and the U.S. Department of Transportation to respond to lawsuits challenging a $1.75 billion private activity bond allocation to finance a private passenger train project.

A lawsuit that threatens to invalidate the sole security for bonds issued by the Chilton County Health Care Authority in Alabama prompted Fitch Ratings to place debt’s AA-minus rating on watch negative.

The judge hearing all the debt lawsuits in Puerto Rico’s federal court ruled for a continued stay in three cases, saying the delay in litigation won’t hurt the investors’ interests.