- Welcome to the New and Only Marginally-Improved Bond Case Briefs! Please see the first entry in Publications for an explanation of the new features and functionalities.
- There are indeed many weeks in which this Highlights section manages to capture each of the week’s important news. This is not such a week. Please be sure to scroll through each of this week’s items.
- SIFMA: Detroit’s LTGO Treatment Would “Shatter” Muni Industry.
- GFOA Alert: The MA Rule and Issuers.
- S&P: Disclose Bank Loans or Risk Rating.
- S&P General Obligation Medians for Municipalities Under the Revised Local GO Criteria: 1Q 2014 Update.
- Asset Managers Might Have to Register as MAs.
- Cromeans v. Morgan Keegan & Co., Inc. – After failed bond offering, underwriter filed third-party complaint against bond counsel seeking indemnity and contribution from bond counsel if underwriter was found liable to the bondholders for any misrepresentations in the Official Statement; District Court holds that bond counsel was not liable directly to the bondholders for the conduct that was the basis of bondholders claims for indemnity and contribution against underwriter, dismissing the complaint.
- Oppenheimer AMT-Free Municipals v. ACA Financial Guar. Corp. – Appeals court holds that financial guaranty insurer was not relieved of its obligation to make payments to municipal bond holders in the event of issuer’s default by cancellation of original bonds and replacement with new bonds as result of restructuring plan in issuer’s Chapter 9 bankruptcy proceedings.
