Law and legal issues

Puerto Rico said it would not be paying bond anticipation notes from the Puerto Rico Infrastructure Finance Authority.

The outlook for the University of Louisville was changed to developing after Moody's Investors Service found that Kentucky Gov. Matt Bevin’s dismissal of the board of trustees raised uncertainty about the university’s governance.

Puerto Rico and Obama administration officials said on Thursday it is imperative that a House bill designed to help the commonwealth be passed into law before the territory’s expected debt payment default on July 1.

The small south Florida city of Opa-locka, recently designated by the state to be in a financial emergency, is under investigation by the Securities and Exchange Commission, according to the Miami Herald.

The Senate is expected to keep Puerto Rico waiting for progress a House bill to help the island address its debt crisis, as other options for the commonwealth have continued to be eliminated.

In a first-of-its-kind case, a federal judge hears arguments June 30 on motions to dismiss a challenge by two Florida counties of $1.75 billion in private activity bonds for the All Aboard Florida passenger train.

Hedge funds holding Puerto Rican general obligation bonds sued the commonwealth Tuesday after debt restructuring talks broke down.

Even before the Senate takes up the House Puerto Rico bill, the names of several individuals are being floated as possible candidates for the oversight board the legislation would create.

A more than $200 million bond-financed hotel near Portland, Oregon's convention center that had faced years of legal challenges appears on track to open in late 2019.

Sen. Bob Menendez, D-N.J., said on Thursday that he plans to offer amendments to a House bill designed to help Puerto Rico to make the bill fairer to Puerto Rican residents.

North Carolina Transportation Secretary Nick Tennyson said the $800 million cost to unwind the I-77 Mobility contract and finance the projects in-house are among his concerns about House Bill 954, which would terminate the P3.

San Bernardino is negotiating with smaller creditors after having reached tentative agreements with employee unions, California Public Employee’s Retirement System and pension bondholders.

Kevyn Orr, who put Detroit into bankruptcy, said Chapter 9 is an option Chicago should have on the table as it steers its way through financial problems.

House Financial Services Committee members unanimously approved a bill on Thursday that would put an end to a current legal loophole that a lawmaker contends allowed broker-dealers to defraud Puerto Rico investors.

A former vice president at Bryn Mawr Trust Co. is asking several federal and state agencies to investigate the Pennsylvania bank for possible fraud.

The Federal Trade Commission plans to appeal a federal court judge’s refusal to block the merger of Illinois-based Advocate Health Care and NorthShore University Health System.

National Public Finance Guarantee sued Puerto Rico Wednesday to overturn the commonwealth's debt moratorium law.

New Jersey bonds could see spread tightening after a state Supreme Court decision upholding the 2011 suspension of cost of living adjustments to retiree pension benefits, but any boost will likely be short-lived, according to Municipal Market Analytics.

Buena Vista, Va., was sued by bond insurer ACA Financial Guarantee Corp., which says the city breached its forbearance agreement and stopped making “moral obligation” payments on bonds issued to construct a golf course.

Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Tuesday afternoon that the Senate will consider the House bill designed to help Puerto Rico before July 1.