Law and legal issues

Amid bankruptcy proceedings, the project's owner and bondholders agreed to a plan to re-issue most of the defaulted debt.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

The FOMB needs to return to its "deal mindset" so that we can end the bankruptcy at PREPA. While gaps remain between the FOMB's and bondholders' affordability analyses, they are not insurmountable.

As the Oklahoma Supreme Court nears a decision on the validity of initial bonds for the turnpike's $5 billion project, property owners again raised objections.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.

The plan of adjustment hearing scheduled for late July will be postponed.

Board asks judge to exclude bondholders' expert testimony and reports from plan of adjustment hearing.

The Illinois case is part of several state-level lawsuits brought by Minnesota-based municipal advisor Johan Rosenberg, accusing banks of conspiring to set the interest rates of state-issued VRDOs artificially high.

The Oklahoma Supreme Court is considering the turnpike's application to jumpstart funding for a $5 billion extension project with $500 million of revenue bonds.

Lawmakers will be called back into session after Gov. Greg Abbott vetoed a bill for having too many loopholes.

The refusal to hear Ohio's case is the second time this year the Court has declined to take up challenges to ARPA.

"Stakeholders believe the best solution is to utilize the bankruptcy process to run a marketing and sale process," Friendship Village of Schaumburg said in a statement.

Texas Gov. Gregg Abbott plans a special session on school choice as more states pass vouchers and Arizona's universal program sees costs explode.

The settlement will allow Austin-Bergstrom International Airport to demolish the privately operated South Terminal as part of a midfield concourse project.

The state Supreme Court decided the lawsuit in the turnpike authority's favor, but it has yet to rule on the validity of bonds to finance a $5 billion extension.

Changes affecting the turnpike's board, which take effect Nov. 1, come as it awaits a court ruling on issuing initial bonds for a $5 billion project.

The Oklahoma Turnpike Authority asked the court to approve $500 million of bonds to jumpstart funding for a $5 billion extension project.