Oppenheimer AMT-Free Municipals v. ACA Financial Guar. Corp., in which the appeals court held that the cancellation and replacement of bonds in connection with an issuer’s bankruptcy proceedings did not relieve bond insurer of its obligation to make payments in any subsequent default.
MSRB Files Revised Amendments to MSRB Rules on Retail Order Periods with SEC.
WSJ: Muni Advisers Face Tougher SEC Rules.
Final Regs Remove References to Credit Ratings in Tax Code Rules.
TEB Phone Forum: Voluntary Compliance and Voluntary Closing Agreement Program.
GASB Proposes Measurement Concepts for Assets and Liabilities and Standards for Measuring, Applying, and Disclosing Fair Value.
Board of Educ. of Du Page High School Dist. 88 v. Pollastrini, in which the appeals court articulated the requirements necessary to establish a valid signature on petitions and ballots.
And finally, Cross v. Baltimore City Police Dept., an employment case in which a Baltimore police officer was terminated after marrying a prison inmate. Apparently a second-degree murder conviction answers the “question” component of “persons of questionable character.” The officer’s better half was also a member of the notorious prison gang, “Dead Man, Inc.” Dead Man, Inc. is, according to the court, organized as follows – “supreme commander, commander, lieutenant commander, a sergeant at arms, and, in some units, an accountant.” Officer’s hubby was a supreme commander. I guess power really is the ultimate aphrodisiac. After reading this case, your editor was left with more questions than answers, including: 1) Where’d the loving couple register – Bloodbath and Beyond? 2) Expands significantly the definition of “mixed marriage,” eh? 3) You can probably tell alot about a person by whether they find the idea of this particular bachelor party terrifying or intriguing. 4) Is Dead Man, Inc.’s accounting GAAP-compliant? 5) Who advised Dead Man, Inc. to incorporate? Was it not made aware of the benefits of pass-through taxation provided by an LLC?

Bond Case Briefs