Law and legal issues

Michigan senators approved a bill giving investors in Detroit’s income tax-backed bonds both a statutory lien and an intercept aimed at snagging at least one investment-grade rating on the city’s first post-bankruptcy bond deal set for the spring.

Rhode Island and unions challenging its landmark 2011 pension benefit are working to settle the case and avoid a jury trial.

Pennsylvania Attorney General Kathleen Kane expects to finish her investigation of the Harrisburg incinerator bond financing fiasco soon, she told lawmakers.

Indian River County, Fla., plans to file a federal lawsuit challenging the U.S. Department of Transportation's private activity bond allocation for the All Aboard Florida passenger train project.

California's Foothill/Eastern Transportation Corridor Agency failed again to get approvals from a water board needed to move ahead on a five-mile extension of one of its toll roads.

The Georgia Supreme Court affirmed the validation of $200 million in bonds for the Atlanta Falcons' new stadium on Monday.

Attorneys in the pay-to-play case involving Jefferson County, Ala.’s sewer deals told a federal judge in recent filings that motions for summary judgment should not be granted.

Investors in a federal class action lawsuit stemming from the failure of a bond-financed Missouri sucralose plant stand to recoup about 86% of the par value of their losses.

Hitting Wayne County, Mich. with its third downgrade in four weeks, Fitch Ratings warned that $200 million of bonds issued for a new downtown Detroit jail could be particularly vulnerable to default.

The written opinion issued by U.S. Bankruptcy Judge Christopher Klein in Stockton’s bankruptcy conveys a mixed message for investors, according to a Moody's Investors Service report.

The California Supreme Court will review appellate court ruling that San Diego Association of Government's 40-year transportation did not meet environmental laws.

This week's oral arguments at the Illinois Supreme Court about the constitutionality of the state's pension overhaul legislation left few hints about how the judges will rule.

Detroit emerged from the largest municipal bankruptcy in the U.S. with stronger credit fundamentals but the city heads into the future facing major economic challenges, Moody's says in a new report.

Illinois' need to protect the public welfare in the face of a fiscal emergency by cutting pension benefits trumps their state constitutional protections, Solicitor General Carolyn Shapiro told the state's high court Wednesday.

An Australian fund manager’s $5.72 billion bid for the 75-year lease of the Indiana Toll Road bodes well for the P3 sector and suggests rising interest among pensions in investing in American infrastructure.

Prime Healthcare backed out of deal to purchase California's ailing Daughters of Charity Health System, a six-hospital chain, because it objected to conditions imposed by California Attorney General Kamala Harris.

Illinois squares off against opponents of its 2013 pension reform legislation Wednesday afternoon before the Illinois Supreme Court in arguments that will be shown live on the Internet.

An Australian company is set to pay $5.7 billion for the 75-year lease of the Indiana Toll Road from the bankrupt company that bought it for $3.8 billion in 2006.

The Missouri Supreme Court took control of Ferguson’s municipal court system Monday in a move that follows a stinging federal report that accused the officials there of abusive practices designed to generate revenue for the court and city coffers.

Florida Gulf Coast University's credit outlook stabilized Monday when two rating agencies found that recent modifications to the terms of a direct bank loan lessened the institution's contingent risk.