Watson Island: City's exposure

I was wondering if anyone has a summary of the Watson Island issue as it stands today. Some of my questions are: Has the city transferred Watson Island into a municipal holding corp? What are the potential environmental liabilities? Other liabilities? Status of Sun West litigation?

I would appreciate any info or recent links on the subject that someone may have on hand. Thanks.

there is an appeal going ahead by SunWave on their loss by the courts decision a month ago, think it goes to the appeal court in June.