NEW YORK – Ruling that any kind of debt, be it bonds, warrants or promissory notes, may be the basis for a bankruptcy filing, a federal bankruptcy judge said Jefferson County can file.
Creditors claimed Alabama law required bond debt, and the warrants behind Jefferson County’s woes were not enough to allow the county to declare bankruptcy.
U.S. Bankruptcy Judge Thomas Bennett in a two-page opinion overruled the objections.
Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
Photos from The Bond Buyer's Texas Public Finance conference.
The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
