Lawsuits

The state's GOs recovered by 20 basis points or more late Thursday and into Friday, but a promised appeal hangs over the credit.

There are no reasonable grounds for the lawsuit to proceed, said the order from Jack D. Davis II. An appeal is planned.

Two courts have interpreted a legal question key to the VRDO lawsuits very differently.

Court filings cite Santee Cooper internal communications that differ markedly from public disclosures about a nuclear power project that went on to fail.

“Reporting unauthorized transactions is certainly a good first step in building cooperation,” said one lawyer. “But there could be a lot more to it.”

A bond insurer and bondholders may file complaints in the Miami-Dade County Expressway Authority's lawsuit challenging a state law abolishing the authority.

An Illinois circuit court judge will decide whether the case can proceed by the end of August.

Jack D. Davis II will decide by the end of the month whether to let the lawsuit challenging $14.3 billion of state debt proceed.

Nuveen and AllianceBernstein say Warlander Asset Management may be using the lawsuit to generate an "enormous profit" from credit default swaps.

Judge John Cooper ruled that the bill to abolish the Miami-Dade County Expressway Authority unconstitutionally usurps the county's home rule authority.