Law and legal issues

Preston Hollow can proceed with a lawsuit that accuses the municipal bond giant of a campaign of intimidation, a Delaware judge ruled.

Moody's Investors Service lowered the Miami-Dade County Expressway Authority’s ratings to A2 from A1 in response to state legislation.

Moody's put the Illinois State Toll Highway Authority's A3 rating on review for a downgrade in the wake of the Puerto Rico ruling.

Fitch Ratings cut the Miami-Dade County Expressway Authority’s bonds to A-minus from A after lawmakers passed a bill to cut tolls and dissolve the authority.

Five companies responded to a request for “expressions of interest” in building three prisons amid federal scrutiny of conditions in the prison system.

Chicago and its pension funds dispute whether the city is meeting its obligations; the city says the state comptroller is too quick to believe the funds.

“Brogdon's substantial and ongoing failure to comply with the plan and court orders are egregious and ongoing,” a court-appointed monitor reported.

The restructuring is expected to save PREPA and Puerto Rico residents about $3 billion in debt service payments over the next 10 years.

The Pennsylvania Turnpike Commission won a lawsuit by truckers over tolling, but still faces questions about how it will manage its $11.8 billion debt load.

S&P lowered the Miami-Dade County Expressway Authority’s bonds and assigned a negative outlook. State lawmakers proceeded to pass a bill abolishing the authority.

As the company moves to exit Chapter 11, it wants Ohio and Pennsylvania to force ratepayers to subsidize its unprofitable nuclear power plants.

The Berkeley County School District said Hilltop Securities agreed to pay back fees the district paid to a predecessor firm from 2012 to 2014.

Mini-bond investors were damaged by the South Carolina-owned utility’s disclosure omissions, according to the suit.

Philadelphia awarded a $190 million general obligation deal to banks the city is suing, alleging collusion on variable-rate debt.

The Miami-Dade County Expressway Authority’s bond rating is being pressured by pending legislation usurping the agency’s power, Moody's says.

A bill restructuring a local expressway authority would order tolls to be lowered by 25%, threatening future road projects.

Nuveen, in its defense against Preston Hollow's lawsuit, says its conduct in the fight for bond business was legal whether the other firm likes it or not.

Westinghouse, the former contractor for the utility’s failed nuclear reactor project, filed a lawsuit to recover property it says the state-owned utility is withholding.

Four California and Chicago school districts are among issuers to earn negative outlooks in Fitch revisions after a ruling in Puerto Rico's bankruptcy.

Whistleblower Johan Rosenberg has alleged that the conspiracy cost issuers over $1 billion — $719 million in California, $349 million in Illinois, and $134 million in Massachusetts.