Law and legal issues

Ambac Assurance Corp., in a bankruptcy court filing, says San Bernardino's plan of adjustment is more aspirational than real.

A federal class action lawsuit settlement between a group of bondholders that invested in a failed Missouri sucralose plant and the financial firms involved in the $39 million bond deal is nearing final approval.

A federal investigation into loan guarantees made by the Town of Oyster Bay, N.Y. could impact the credit rating of New York's fourth largest township, according to Moody's Investors Service.

As it prepares to sell bonds, the Wayne County Airport Authority, which runs Detroit’s airport, is highlighting its legal and political separations from its struggling home county, which is in the midst of a financial emergency.

A Pennsylvania court upheld theft and corruption charges against former Harrisburg mayor Stephen Reed and sent the case to trial.

Eight Hispanic lawmakers called on the Department of Treasury Monday to take a more active role in helping Puerto Rico with its worsening fiscal situation by engaging Congress over pending Chapter 9 bankruptcy legislation.

Martin County, Fla., filed a petition for writ of certiorari Sept. 3 asking an Orange County court to overturn approval of the $1.75 billion in bonds for Florida’s passenger train project.

The Please Touch Museum in Philadelphia has filed for Chapter 11 bankruptcy protection two years after defaulting on nearly $60 million in bonds.

The North Carolina Department of Transportation won a federal court ruling Friday allowing the state to continue work on the $840 million, 20-mile Monroe Connector Expressway.

Rhode Island Superior Court Judge Michael Silverstein signs off on the state's second partial settlement in the 38 Studios lawsuit.

Wayne County, Mich. Executive Warren Evans on Sept. 10 issued his first order under the county’s newly inked consent agreement with the state.

Port St. Lucie, Fla., has asked a judge to appoint a receiver for The Vaccine & Gene Therapy Institute, which plans to shut down Oct. 1, leaving the city on the hook for bond payments.

Scranton, Pa., has chosen a National Development Council bidding team to operate its parking assets under a P3 that could improve the city’s reputation in the bond markets.

Illinois-based College of DuPage fired its top two fiscal managers – treasurer Thomas Glaser and controller Lynn Sapyta – accusing the two of violating school investment practices and other internal rules.

The Illinois attorney general won't ask the U.S. Supreme Court to review the the Illinois Supreme Court’s voiding of the state’s 2013 pension reform legislation.

Tuesday’s ouster of United Airlines’ CEO Jeff Smisek and two senior officials at the carrier in the midst of a federal investigation related to dealings with the Port Authority of New York and New Jersey has brought new scrutiny to the transportation agency.

A statutory lien may not be enough for investors in light of the severe financial stress facing Detroit Public Schools, investors say.

A group of Jefferson County, Ala., residents told an appellate court they were denied constitutional protections in the rush to end the county’s “large and complicated” Chapter 9 bankruptcy in 2013.

Multiple New Jersey public sector unions have petitioned the U.S. Supreme Court to review a recent state Supreme Court ruling that allowed Gov. Chris Christie to cut pension funding.

Gov. Gina Raimondo and other Rhode Island officials will push for a bond rating upgrade when they meet with rating agencies.