Law and legal issues

A judge sentenced Randy Miller to six years in prison and his son, Chad Miller, to five years. They had pleaded guilty to fraud stemming from a bond sale.

While victims' attorneys now signal support for the settlement, bond attorneys still oppose the plan.

The Justice Department has opened a criminal investigation into Federal Reserve Gov. Lisa Cook and allegations of mortgage fraud, allegations that spurred President Trump to terminate her position on the Fed Board last week. Cook is challenging the president's authority to remove her in court.

The bankruptcy court told bondholders and other creditors they should vote on the proposed reorganization by Oct. 29.

The Westin Chicago Lombard's owner is returning to market with unrated bonds designed to cure payment defaults on debt issued to exit bankruptcy in 2018.

Aleon Metals, along with its subsidiaries, which sold more than $300 million of tax-exempt revenue bonds since 2019, filed Chapter 11 bankruptcies in August.

Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump's "illegal attempt" to remove her from the Fed board. The suit claims Trump has not demonstrated "cause" for her removal under the Fed statute.

A state lawmaker is asking the court to invalidate a 2022 nearly $700 million bond sale due to inadequate audits by the Oklahoma Corporation Commission.

Just 10 nonprofit environmental groups were responsible for 35% of all the NEPA lawsuits analyzed by the Breakthrough Institute in a new report.

A lawsuit seeks to force the Texas city to reword its Nov. 4 property tax rate hike proposition to correct "misleading" language.

The president's authority to withhold already appropriated federal funds has been the focus of dozens of lawsuits, including from cities and states.

The ruling by a state judge comes in a lawsuit that pointed to unequal access by public school districts to local property taxes and bonds.

A flow of public dollars to private schools has raised credit concerns about public schools and spurred litigation in Southwest states.

The largest investors in the Brightline Florida train have negotiated new terms ahead of an Aug. 13 repayment deadline.

A judge approved an injunction requested by 20 states to temporarily halt the Federal Emergency Management Agency from diverting money from a disaster preparedness program.

Some bondholders have retained legal counsel while others are in the dark about the company's plans.

The federal government didn't have enough influence in the resulting haircuts to the COFINA bondholders for it to be liable for their losses, the court said.

Amid higher ed sector headwinds, financially challenged colleges and universities have options, although the choices may be difficult, Orrick attorneys write.

Damage claims from the Eaton wildfire could wipe out the $21 billion fund created to protect utilities and their customers when an investor-owned utility's equipment is deemed responsible.

The fund's sell-off in June shows the challenges of accurate pricing in the high-yield muni market.