Law and legal issues

A three-judge panel said the department could not prove the project was a modification of the existing infrastructure, which would have given it the authority to issue bonds.

A lawyer for the bondholders said a majority support the proposed treatment of the $61 million of outstanding bonds.

A federal judge set oral arguments for Jan. 28 in the legal fight over the Metropolitan Transportation Authority's congestion pricing tolls in Manhattan.

A California Supreme Court ruling could eliminate the need for validation lawsuits before issuing pension obligation bonds, the winning attorneys say.

In a case stemming from a PACE bond authorization, the majority said language in Florida law giving finality to bond validations must be respected.

The city's rejection of the petition, which aims to stall or submit the largely bond-financed convention center project to voters, is being challenged in court.

Pasadena and the Rose Bowl Operating Co. are suing UCLA, saying plans to relocate football games to SoFi stadium could jeopardize $130 million in revenue bonds.

The nonprofit Oroville Hospital filed for Chapter 11 bankruptcy after failing to sell itself or secure an affiliation with a larger hospital system

While the plan of reorganization says bondholders will get 100% of principal, it won't be for 12 years. And they will lose some interest.

This is the first upgrade of bonds supported by assets currently or formerly in the Puerto Rico government's hands since the passage of PROMESA in 2016.

The toll road agency's financial and other practices were targeted in a November legislative study, which could lead to another round of reform legislation.

22 municipalities are suing the state over vehicle-license fees they say California has failed to pay them.

Fiddlers Canyon's complaint should be dismissed for several reasons, UMB said. 

The deal offers a better recovery than earlier deals but no principal payment for 12 years.

"Despite the plethora of red flags, UMB wired the requisitioned amount based on the fraudulent wire instructions," the plaintiff said in its complaint.

Keohane was described by colleagues as a deep thinker with an encyclopedic knowledge of New York public finance law and a great sense of humor.

The California Debt and Investment Advisory Commission explored public finance solutions to child sexual abuse claims this week at an event in San Diego.

The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.

Attorneys for the Archdiocese said it is "inevitable" bondholders will be hit with a cramdown.

City Manager Oliver Chi unveiled a plan to invest $60 million to change the city's current trajectory.