Third Circuit Appellate Court Rules That Post-Acceleration Payment in Bankruptcy Constitutes Optional Redemption: Mintz, Levin
Final Issue Price Rules Make Allowances for Competitive Sales.
IRS Publishes Issue Price Definition for Tax-Exempt Bonds.
New Type of Chicago School Debt Gets Investment-Grade Rating.
Fitch Rates $500MM Chicago Board of Ed (IL) Bonds ‘A’ on Special Revenue Analysis; Outlook Stable.
Kroll Bond Rating Agency Assigns the Long-Term Rating of BBB with a Negative Outlook for the Chicago Board of Education Dedicated Capital Improvement Tax Bonds, Series 2016.
Becker v. Bank of New York Mellon Trust Company, N.A. – District Court certifies class action by bondholders against indenture trustee that had failed to maintain perfected security interests in the property securing the bonds, allegedly resulting in a reduced award to the bondholders by the bankruptcy court in issuer’s Chapter 11 bankruptcy.
And finally, The Wheels On the Bus Go Buelta y Buelta is brought to us this week by McNair v. City and County of San Francisco, in which school bus driver Michael McNair’s professional qualifications were called into question after he (oh, so very inter alia) “improperly drove a group of children from San Diego, California to Tijuana, Mexico.” Field trip! Mr. McNair’s explanation for this little incident features the mother of all understatements, “I made a mistake and just didn’t think.” Appreciate the candor, but we’ll be hanging on to the keys all the same.

Bond Case Briefs