Law and legal issues

The Puerto Rico Treasury Department and struggling Doral Financial Corp. have entered into court-supervised negotiations over Doral's claim for $229 million.

Detroit said a planned $300 million exit financing that key to its recovery will feature a first lien on income taxes and mature in 11 to 15 years.

Louisiana Treasurer John Kennedy sent a letter Aug. 11 telling the state attorney that he is not pleased with a federal housing discrimination settlement.

A federal appeals court dismissed a lawsuit over the massive $2.6 billion Ohio River Bridges Project being built by Kentucky and Indiana.

The mayor of the city of Warren in Macomb County has filed a lawsuit to overturn a recent ballot proposition that will phase out the personal property tax, which goes to local governments.

Michigan's Attorney General are asking the state supreme court to reconsider a recent ruling that budget officials warn ruling could cost the state up to $1.1 billion and dig a hole in the current-year budget.

Halifax Hospital Medical Center in Florida will pay $11.9 million on top of $85 million to settle claims made by the federal government and a whistleblower.

A lawsuit challenging the Securities and Exchange Commission's pay-to-play rules could have implications for the Municipal Securities Rulemaking Board's effort to write such rules for muni advisers, as well an existing rule for dealers.

Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.

Seven current and former Georgia lawmakers filed a lawsuit against Fulton County commissioners after they increased the property tax rate by 17.45%.

Bond insurer Syncora Guarantee Inc., Detroit's fiercest opponent in the city's bankruptcy case, said it is already gearing up for appeals process assuming the city's plan is confirmed in a trial set to start later this month.

A federal appellate panel Thursday ruled that North Carolina’s plan to replace the 50-year-old Bonner Bridge must be reconsidered by a lower court.

Bankrupt Detroit has floated a plan asking holders of $5.2 billion of water and sewer bonds to tender their debt, allowing the city to refinance in an effort to achieve savings.

After almost two years of preparation, an adverse ruling Monday on the hotel sales tax that would have funded the majority of San Diego's planned convention center expansion sends city leaders back to the drawing board.

The struggling Lakeside 370 Levee District in St. Charles County, Missouri has filed Chapter 9 bankruptcy as it seeks to restructure $34 million of unrated bonds in hopes of improving the project's prospects.

Roger Williams University trustees have authorized negotiations to lease the former 38 Studios office for its own downtown Providence expansion.

The Sixth Circuit Court agreed to postpone hearings on a series of appeals on the city's eligibility to enter into Chapter 9 after a group of labor creditors in the Detroit bankruptcy and the city asked for the delay.

Louisiana State Bond Commission and Department of Justice attorneys entered into a settlement of the government's housing discrimination lawsuit even though the commission's chairman claims it was not authorized by the full SBC..

The California 3rd District Court of Appeal ruled Thursday that the state may resume selling $10 billion in bonds for its $68 billion high speed rail project.

A rating boost affirms the ability of bond insurer Assured Guaranty to minimize its Puerto Rico exposure, according managing director John Hallacy.