Bonds

Corporate and Financial Weekly Digest - May 17, 2013

by Katten Muchin Rosenman LLP on 5/20/2013

In this issue: - CFTC Adopts Final Rules for Execution Facilities and Other Matters - FINRA Issues Interpretive Guidance on Use of Back Tested Index Data by ETPs - Mississippi District Court Defers to New...more

Court of Appeal Narrowly Reads School Bond Measure Language In Siding with Taxpayer Group’s Challenge To High School Stadium...

by P. Addison Covert, Meghan Covert Russell, Stacy Toledo | Kronick, Moskovitz, Tiedemann & Girard on 5/20/2013

The California Court of Appeal, Fourth Appellate District, recently held that school district bond revenues could not be spent on stadium lighting where the bond proposition did not specifically list field lighting as part of...more

Institutions Fund's Bond Guarantee Program Funded for 2013

by Elizabeth Fallon, Micah Green, Matthew Kulkin | Patton Boggs LLP on 5/20/2013

On March 21, 2013, Congress authorized the Community Development Financial Institutions (“CDFI”) Fund to guarantee up to $500 million aggregate principal amount of bonds in fiscal year 2013, marking a new opportunity for...more

Bond is Back

by Jonathan Bloom, James Douglas, Mike Goetz, Tony Horspool, Michael Kazakevich, Daniel Martin, W. Jane Rogers | Ropes & Gray LLP on 5/17/2013

Opportunities for investors in European HY Debt - Record amounts of HY issuance in Europe since 2010, much of which has refinanced the LBO bank debt maturity wall - Potential for significant restructuring...more

Harrisburg Charged With Securities Fraud - Securities and Exchange Commission Says City Made Misleading Financial Statements

by Kimberly Byrens | Best Best & Krieger LLP on 5/10/2013

The inclusion of the public statements of an elected official in allegations of securities fraud could change the traditional relationship between the politicians and their constituency versus issuers and the bond market....more

School Districts Cannot Spend Bond Money on Projects Not Disclosed to Voters - School Bonds with 55 Percent Vote Threshold Must...

by Kelly Salt | Best Best & Krieger LLP on 5/1/2013

The Fourth District Court of Appeal recently upheld a challenge to a school district’s spending voter-approved bond proceeds for field lighting at a high school stadium because the ballot proposition did not specifically list...more

Bond Consent Solicitation Payments - Court of Appeal Upholds Judgment in Azevedo & Another v Imcopa

by Michael Doran, Kevin Heverin, Stephen Phillips | White & Case LLP on 4/24/2013

In summer 2012, two important judgments were handed down on cases relating to bond consent solicitations. Although the consent solicitation techniques proposed by the debtor companies in each case were markedly different, at...more

Keep Calm and Remain Silent if You Are Arrested

by Law Offices of Adrian H. Altshuler &... on 4/24/2013

If you are arrested, it is important to avoid panicking and to think clearly to make sure your rights are secured. The Fifth Amendment gives you the right to refuse to discuss allegations with police. Although you may feel...more

Quarterly Investment Update – 1st Quarter 2013

by Perkins Coie on 4/19/2013

Stock Market Commentary - Renewed monetary support by the Federal Reserve and dissipation of fear over tax hikes drove U.S. equity markets to record levels in the first quarter. The S&P 500 rose 10.6%, closing the...more

The fate of Argentina's debt restructuring is getting closer

by Sheppard Mullin Richter & Hampton LLP on 4/15/2013

In what the Financial Times has called “the sovereign debt restructuring case of the century,” Argentina has timely submitted its proposal as requested by the U.S. Court of Appeals for the Second Circuit, with which it is...more

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

by Timothy Patenode, Jennifer Ryan | Katten Muchin Rosenman LLP on 4/12/2013

Lenders in Illinois might want to take note of pending Illinois House Bill 2804. The bill would amend the Mechanics Lien Act, so as to allow “bonding off” of mechanic liens for the first time in Illinois. Nearly every state...more

SEC Proposes New Exchange Tests To Prevent Tech Breakdowns

by Felix Shipkevich | Shipkevich PLLC on 4/10/2013

The Securities and Exchange Commission (SEC) is striving to limit and prevent technology breakdowns at at venues handling stock, options and bond trades, by proposing a new rule to prevent malfunctions that could harm...more

Judge Rules In Favor Of Stockton And Accepts Chapter 9 Petition

by Danielle Kennedy | Sheppard Mullin Richter & Hampton LLP on 4/10/2013

Round one of the fight between the City of Stockton, California and its creditors is finally over. On April 1, 2013, Bankruptcy Judge Christopher M. Klein held that Stockton satisfied the eligibility requirements for a...more

BONDing With NPE's - The requirement for security for costs or expenses under Section 1030 of the California Code of Civil...

by Edwin Komen | Sheppard Mullin Richter & Hampton LLP on 4/1/2013

A little used and often overlooked provision of the California Code of Civil Procedure recently played an important role in three recent cases brought by AF Holdings LLC, a foreign entity formed under the laws of the...more

Under The Dome: Inside The Maine State House 3-22-13

by Avery T. Day, John D. Delahanty, Andrea Cianchette Maker | Pierce Atwood LLP on 3/25/2013

In This Issue: - Governor Does Not Act on Veto Threat - Appropriations Committee Continues Public Hearings on Biennial Budget - Governor Explores Medicaid Expansion - Legislature Gets a Snow Day - Governor...more

Five Things To Know When Contemplating the Issuance of Municipal Debt

by Timothy J. Horstmann, Donna Kreiser | McNees Wallace & Nurick LLC on 3/22/2013

Municipal financings are often perceived as a very complex, and even overwhelming, undertaking. The various rules and regulations which govern the process oftentimes seem complicated and difficult to understand. Keep in mind...more

Bill on Bankruptcy: Why is Kodak's Stock Soaring? [Video]

by Bloomberg Law on 3/20/2013

March 20 (Bloomberg Law) -- Although Eastman Kodak Co. stock shot up like a rocket in a week's time, investors might not have the same profitable outcome like owners of American Airlines shares, as Bloomberg Law's Lee Pacchia...more

Changes Taking Effect to North Carolina Lien and Bond Laws

by John Mabe | Nexsen Pruet, PLLC on 3/14/2013

The rules are changing when it comes to North Carolina lien and bond laws. And, the new provisions are substantially altering the way in which all parties involved in lien rights – from owners, buyers, and sellers to general...more

Second Circuit Rules That Putative Auction Rate Securities Class Action Complaints Failed to Adequately Plead Antitrust Conspiracy

by Rena Andoh | Sheppard Mullin Richter & Hampton LLP on 3/14/2013

In Mayor and City Council of Baltimore v. Citigroup, Inc., No. 10-0722-cv(L) and 10-0867-cv(CON), 2013 WL 791397 (2d Cir. Mar. 5, 2013), the United States Court of Appeals for the Second Circuit upheld the dismissal of two...more

Sequestration: Federal Subsidy Payments for BABS and Other Direct-Pay Subsidy Bonds will be Reduced 8.7%

by Sherman & Howard L.L.C. on 3/14/2013

Pursuant to the Balanced Budget and Emergency Deficit Control Act, on March 1, 2013, the President issued the sequestration order which requires automatic spending cuts ("sequestration") as the result of Congress' failure to...more

Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing [Video]

by Bloomberg Law on 3/13/2013

March 13 (Bloomberg Law) -- Someone who bought stock in American Airlines last year already made a killing. Stock that could have been bought in November for less than 40 cents a share is now trading above $4, for...more

U.S. Court of Appeals (2nd Circuit) Orders Argentina To Submit Proposal For Alternative Payment Plan To Avoid Debt Default......

by Gabriel Matus | Sheppard Mullin Richter & Hampton LLP on 3/11/2013

On March 1, 2013, the U.S. Court of Appeals for the Second Circuit ordered Argentina to submit its proposal for the terms on which it is prepared to make payment on approximately $1.3 billion of unpaid debt obligations...more

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Corporate and Financial Weekly Digest - May 17, 2013

Court of Appeal Narrowly Reads School Bond Measure Language In Siding with Taxpayer Group’s Challenge To High School Stadium...

Institutions Fund's Bond Guarantee Program Funded for 2013

Bond is Back

Harrisburg Charged With Securities Fraud - Securities and Exchange Commission Says City Made Misleading Financial Statements

School Districts Cannot Spend Bond Money on Projects Not Disclosed to Voters - School Bonds with 55 Percent Vote Threshold Must...

Bond Consent Solicitation Payments - Court of Appeal Upholds Judgment in Azevedo & Another v Imcopa

Keep Calm and Remain Silent if You Are Arrested

Quarterly Investment Update – 1st Quarter 2013

The fate of Argentina's debt restructuring is getting closer

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

SEC Proposes New Exchange Tests To Prevent Tech Breakdowns

Judge Rules In Favor Of Stockton And Accepts Chapter 9 Petition

BONDing With NPE's - The requirement for security for costs or expenses under Section 1030 of the California Code of Civil...

Under The Dome: Inside The Maine State House 3-22-13

Five Things To Know When Contemplating the Issuance of Municipal Debt

Bill on Bankruptcy: Why is Kodak's Stock Soaring? [Video]

Changes Taking Effect to North Carolina Lien and Bond Laws

Second Circuit Rules That Putative Auction Rate Securities Class Action Complaints Failed to Adequately Plead Antitrust Conspiracy

Sequestration: Federal Subsidy Payments for BABS and Other Direct-Pay Subsidy Bonds will be Reduced 8.7%

Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing [Video]

U.S. Court of Appeals (2nd Circuit) Orders Argentina To Submit Proposal For Alternative Payment Plan To Avoid Debt Default......

Bank of Russia Adopts Basel III Regulation

Water Infrastructure Loan Program Reintroduced in Congress

Municipal Debt Reform Legislation Introduced in State Senate

Bill on Bankruptcy: Why is Kodak's Stock Soaring? [Video]

Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing [Video]

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