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Obama Administration’s FY 2016 Budget Includes Potential Tweaks to Airport Funding Mechanisms

The Obama administration’s fiscal year 2016 budget includes approximately $95 billion for a broad array of transportation-related projects. Included in that category of spending are several interesting aviation infrastructure...more

Proposed Bonds to Encourage Public Private Partnerships And Improve Infrastructure

The nation’s infrastructure is in need of dire repair. On February 2, 2015, to encourage private investments in infrastructure through public-private partnerships (“P3s”) and as part of his 2016 proposed budget, President...more

Third Circuit Approves Use Of Structured Dismissals Of Chapter 11 Bankruptcies, but Rarely

On May 21, 2015, the United States Court of Appeals for the Third Circuit approved the settlement and dismissal of chapter 11 bankruptcy cases through a structured dismissal in rare instances. See Official Committee of...more

Energy Bulletin (US)

FERC enforcement office draws fire at House hearing. The enforcement arm of the Federal Energy Regulatory Commission came under fire at a congressional hearing June 3 and June 4, as some members of the US House of...more

How New Rail Regulations May Spur Midstream M&A

Over the past several months we’ve seen a rise in mergers and acquisitions among midstream energy firms. A variety of factors will likely push more firms to consider M&A, but one factor stands out: new regulations surrounding...more

The Road Ahead for TransVantage Solutions, Inc.

The Chapter 7 Trustee appointed in the TransVantage Solutions, Inc. bankruptcy case ground the gears of the nation’s trucking industry this past April when he filed over 500 adversary complaints against common carriers,...more

Ferry Service Between The United States And Cuba—Imminent Or Not?

Recent decisions by the Office of Foreign Assets Control (OFAC) of the Department of Treasury have increased the prospects for regular air and vessel service to and from Cuba. Those decisions do not open the floodgates for...more

CFPB Issues Final Rule Regarding Nonbank Auto Finance Companies – Vespa Dealers Breath Sigh of Relief

Today the CFPB issued its long-awaited final rule regarding larger participants in the nonbank auto finance market that will allow the Bureau to supervise larger nonbank auto finance companies for the first time. The CFPB...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Bonds by Day - As the end of the session nears, the 13-member Appropriations Committee...more

Tax Policy Update

NUMBER OF THE WEEK: 68,000. The estimated number of vehicles that traverse the Memorial Bridge between Arlington, Va., and Washington, D.C., each day—now with increasingly frustrated drivers stuck in snarled traffic after two...more

Virginia P3 Law Amendments: Good for the Public, Bad for Business?

Virginia, long at the forefront of public-private partnership (P3) legislation, has enacted new measures to protect the public from high-risk projects. On March 6, 2015, the Virginia General Assembly enacted House Bill 1886...more

South Carolina Legislative Update

The South Carolina General Assembly will wrap-up session this Thursday, but will return the week of June 16th for the limited purpose of deliberating gubernatorial vetoes, appointments, local legislation, conference committee...more

The Asian Infrastructure Investment Bank – Shaping Development

Applications for founding membership of the China-initiated Asian Infrastructure Investment Bank (AIIB) closed on 31 March 2015. The fifty-seven prospective founding members notably do not include the United States (U.S.) or...more

North Carolina Achieves Financial Close on State’s First Highway Public-Private Partnership

North Carolina, acting through the North Carolina Department of Transportation (NCDOT), reached a major milestone on May 20, 2015 when financial close was achieved on the I-77 Express Lanes Project – the first highway...more

Rating Agency Developments

On May 22, DBRS released its methodology for rating entities in the real estate industry. On May 21, DBRS released its methodology for reviewing ratings of Canadian structured finance and covered bond transactions. On May 20,...more

Aircraft Deregistration and Repossession in India: Lessons from Kingfisher and SpiceJet

In 2012, Kingfisher Airlines, one of India's major airlines, ceased operations. India and its courts delayed responses to the request of lessors and financiers to deregister and repossess their aircraft, upsetting the market...more

A New Tool for Developing and Financing Public and Private Infrastructure: Enhanced Infrastructure Financing Districts

Even as the state's economy continues to improve, local governments continue to struggle to find ways to meet the state's backlog of infrastructure needs, including water, transportation, energy, affordable housing and more....more

Trespass And Other Claims: Ever Wonder If Litigation Is Worth It?

Flyboy Aviation Properties, LLC v. Franck (In re Flyboy Aviation Properties, LLC), 525 B.R. 510 (Bankr. N.D. Ga. 2015) – A chapter 11 debtor operated a small private airport. The debtor and an adjacent landowner had a...more

Minnesota Session Ends With Governor Threatening Veto

The Minnesota legislature concluded its business last evening with Governor Mark Dayton threatening to veto a $17 billion public education funding bill – a threat he carried through with earlier today. The governor issued the...more

The Construct - May 2015

In This Issue: - Construction Contract Claims Against a Third-Party Lender? The Unforeseen Consequences of a Standard Practice: For those of us who commonly represent lenders, there is nothing more unsettling...more

Registration of Cyprus Ships

Cyprus is a leading forum in the international maritime industry mostly due to its attractive tax system for ship owners and ship managers and due to its ratification of major international maritime conventions. Cyprus is...more

Tax Policy Update

NUMBER OF THE WEEK: 15. The number of minutes it should take most Americans to do their taxes, according to potential GOP presidential candidate Chris Christie in a Wall Street Journal op-ed published last night. ...more

Cities and State Legislature Organizations come together in Washington to Tout P3s during Infrastructure Week, 2015

As part of Infrastructure Week, 2015, several interested organizations banded together for an afternoon meeting on Monday, May 11, that focused on public-private partnerships as a way out of the infrastructure crunch. ...more

Week In Review - May 2015 #2

Budget Battle - Conference committees on the budget bills for the next biennium have begun their initial walkthroughs of fiscal tracking sheets and side-by-side comparisons, but the real negotiating is awaiting new...more

Supreme Court ruling limits PPF protection for schemes with no UK employers

In October 2009, the Greek courts ordered the winding up of the Greek national airline, Olympic Airlines. Olympic ran flights from UK airports, employing 27 employees in the UK, dealing with things such as ticket sales. In...more

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