Law and legal issues

The 6th circuit appeals court will hear oral arguments Wednesday on Syncora's appeal of a key decision in the Detroit bankruptcy, one of the insurer's five pending appeals in the case.

Detroit emergency manager Kevyn Orr Tuesday issued an order that gives the city's mayor control of the Detroit Water and Sewerage Department.

A Georgia judge validated $397 million of municipal bonds for the Atlanta Braves, but officials say the deal likely faces an appeal.

A settlement with Detroit's limited-tax general obligation bondholders that calls for a 34% recovery also gives the creditors a say in the city's effort to repudiate $1.4 billion of pension certificates, one of the most controversial aspects of the bankruptcy case.

A court of appeals upheld a proposed route connecting the San Francisco Bay Area to the Central Valley for California's $68 billion high speed rail project.

The outcome of Detroit's high-profile bankruptcy case could influence how other distressed Michigan governments prioritize their own retirement obligations against other types of debt, Moody's Investors Service said.

A Rhode Island Superior Court judge will hear a petition by bondholders to oppose receivership for Wyatt Detention Center in Central Falls, saying the city is using the process to cram them down.

Oil and gas producers in Colorado won a significant legal victory Thursday, as a state district court struck down a local on hydraulic fracturing within city limits.

Three consumer advocacy groups filed a lawsuit accusing Tennessee of implementing policies that deny health coverage to individuals eligible for TennCare.

Hospital bankruptcies are on pace to set a record in 2014 and investors should get more involved with restructuring efforts, a firm specializing the field says.

Having dropped the stigmatized Harrisburg Authority name, Capital Region Water of Pennsylvania is shooting for an investment-grade rating within 18 to 24 months. Meanwhile, the unrated is selling debt with the help of credit enhancement.

Financial advisor Calvin Grigsby of Grigsby & Associates filed a federal lawsuit against the Shreveport, La., City Council after the city sued his firm accusing him of overbilling financial advisory fees.

U.S. District Court Judge Sharon Lovelace Blackburn orders briefs to determine if Jefferson County, Ala.'s bankruptcy appeal will be dismissed.

Puerto Rico called for the dismissal of a suit challenging the commonwealth's newly passed public corporation restructuring law.

With the votes in on Detroit's plan to deal with its $18 billion of debt, the stage is set for confirmation hearings next month that will pit unhappy bondholders and bond insurers against employees and retirees who overwhelmingly endorsed the plan.

Despite significant obstacles, Detroit's proposed plan of adjustment to exit its Chapter 9 bankruptcy is feasible, according to Martha Kopacz, the municipal finance expert hired by the bankruptcy court to assess the plan.

Detroit’s retirees and employees endorsed the city’s proposed plan of adjustment while holders of the city’s limited tax general obligation bond holders and certificates of participation rejected it, according to the voting results released late Monday by the federal bankruptcy court.

The Amsterdam at Harborside plans to file for bankruptcy tonight or tomorrow, the conclusion of over a year of restructuring negotiations with bondholders. The plan does not forgive any debt, but does feature a senior and subordinate exchange offer.

Detroit's proposed plan of adjustment to deal with its $18 billion debt load is feasible, the municipal finance expert witness hired by the federal bankruptcy court to assess the plan believes.

A new company is aiming to keep holders of Puerto Rico bonds informed about the court proceedings there.