Bankruptcy

The federal government didn't have enough influence in the resulting haircuts to the COFINA bondholders for it to be liable for their losses, the court said.

Amid higher ed sector headwinds, financially challenged colleges and universities have options, although the choices may be difficult, Orrick attorneys write.

U.S. District Judge Laura Taylor Swain gave no indication at the hearing as to how she was leaning and said some issues might not be able to be resolved as a matter of law.

As long as the Oversight Board offers virtually nothing to many PREPA bondholders, the bankruptcy is likely to be tied up for years in litigation.

New Jersey's Toms River school district was downgraded two notches by S&P after refusing to adopt a budget and discussing bankruptcy.

A New Jersey school district will likely avoid filing for bankruptcy after the state passed a budget that raised property taxes. 

As it fights with the state over funding, the board of the Toms River Regional School District refused to raise taxes and threatened a bankruptcy filing.

Damages awarded to the developer are several times tiny Cle Elum's $5 million general fund budget for 2025.

The archdiocese allegedly backed away from repeated promises bond parties would be paid in full, they said.

The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.