Law and legal issues

Atlantic City, N.J., averted default Monday by making a $1.8 million debt service payment, but it’s far from certain the struggling city can make other such payments this year.

Puerto Rico imposed a moratorium on Government Development Bank principal payments Monday while also announcing two restructuring deals on the GDB debt.

Some investors in Harvey, Illinois debt report being stiffed on a bond payment, though the city has not made any disclosures through the EMMA system.

As Puerto Rico faces bond defaults on Monday and July 1 without legislative relief from Congress, analysts say new litigation is increasingly likely.

The future of pension obligation bonds remains cloudy in California in the wake of the haircuts imposed on their holders in the San Bernardino and Stockton bankruptcies.

San Bernardino is on track to exit bankruptcy by the end of the year, City Attorney Gary Saenz said.

Ferguson, Missouri’s bond ratings fell deeper into junk territory amid the fiscal strains of dealing with fallout from a controversial 2014 fatal police shooting.

A vote on the Puerto Rico bill may be stalled until mid-July as many, including unions and other groups, press for changes to address concerns over debt restructuring and oversight board provisions as well as to protect the island's pensioners

A new bill proposed in the New Jersey State Senate would allow financially distressed Atlantic City and other coastal municipalities to end costly lifeguard pensions.

Kentucky’s Attorney General Andy Beshear has asked the Executive Branch Ethics Commission to probe improprieties of public corruption alleged by Gov. Matt Bevin.

A $3.4 billion project designed to deliver water to the San Antonio Water System is facing delays after Abengoa S.A., the company hired to build the 142-mile pipeline, filed for bankruptcy.

Hillview, Ky., has filed a motion to dismiss its Chapter 9 bankruptcy case based on a settlement with a creditor that Moody's Investors Service said may prove unaffordable for the small city south of Louisville.

A Michigan House committee will take up the next round of discussions on the proposed Detroit Public Schools restructuring.

Michigan Attorney General Bill Schuette’s criminal probe of the Flint water crisis will include a review of the bond-financed pipeline the Karegnondi Water Authority is building to deliver water to the city.

The primary union at the Puerto Rico Electric Power Authority has sued to overturn the law that paved the way for its restructuring agreement with creditors.

A judge ruled Tuesday that Atlantic City is in compliance with payments owed to its school district and now the gambling hub is fighting back against New Jersey in a counter lawsuit.

A recent Superior Court ruling, a pending district lawsuit and a renewed push for statehood have all set the stage for a budget showdown in the nation’s capital this fall.

Bond attorney Kareem Spratling, whose career was boosted by timely mentoring, wants to assist the careers of lawyers of diverse backgrounds as chairman of the Diversity Committee for the National Association of Bond Lawyers.

A plan to resolve Hillview, Ky.'s bankruptcy case led Standard & Poor's late Tuesday to lift the bond ratings of the small city south of Louisville to investment grade from junk.

Kentucky Gov. Matt Bevin said Tuesday that he ordered an investigation into “potentially illegal” contracting and coerced political contributions during former Gov. Steve Beshear’s administration.