Bankruptcy

The Senate Finance Committee will hold a hearing on Sept. 29 to discuss the “dire financial situation” in Puerto Rico, committee chair Sen. Orrin Hatch, R-Utah, said Tuesday.

Florida-based Adventist Health System agreed to pay $118.7 million to settle allegations that it had physician referral agreements that violated the federal False Claims Act.

Atlantic City has positioned itself to make short-term required debt payments with no plans to enter bankruptcy, according to the city’s revenue director Michael Stinson.

The trustee for the Santa Rosa Bay Bridge Authority’s defaulted toll bridge bonds wants to sue the state if enough bondholders step forward to authorize the legal challenge.

Some documents related to the 38 Studios lawsuit may remained sealed, a Rhode Island judge ruled.

Hillview, Ky., filed for bankruptcy last month under the weight of a $15 million court judgment; objections to the city’s petition are due by Oct. 1.

Ambac Assurance Corp., in a bankruptcy court filing, says San Bernardino's plan of adjustment is more aspirational than real.

A federal class action lawsuit settlement between a group of bondholders that invested in a failed Missouri sucralose plant and the financial firms involved in the $39 million bond deal is nearing final approval.

A federal investigation into loan guarantees made by the Town of Oyster Bay, N.Y. could impact the credit rating of New York's fourth largest township, according to Moody's Investors Service.

As it prepares to sell bonds, the Wayne County Airport Authority, which runs Detroit’s airport, is highlighting its legal and political separations from its struggling home county, which is in the midst of a financial emergency.

A Pennsylvania court upheld theft and corruption charges against former Harrisburg mayor Stephen Reed and sent the case to trial.

Eight Hispanic lawmakers called on the Department of Treasury Monday to take a more active role in helping Puerto Rico with its worsening fiscal situation by engaging Congress over pending Chapter 9 bankruptcy legislation.

Martin County, Fla., filed a petition for writ of certiorari Sept. 3 asking an Orange County court to overturn approval of the $1.75 billion in bonds for Florida’s passenger train project.

The Please Touch Museum in Philadelphia has filed for Chapter 11 bankruptcy protection two years after defaulting on nearly $60 million in bonds.

The North Carolina Department of Transportation won a federal court ruling Friday allowing the state to continue work on the $840 million, 20-mile Monroe Connector Expressway.

Rhode Island Superior Court Judge Michael Silverstein signs off on the state's second partial settlement in the 38 Studios lawsuit.

Wayne County, Mich. Executive Warren Evans on Sept. 10 issued his first order under the county’s newly inked consent agreement with the state.

Port St. Lucie, Fla., has asked a judge to appoint a receiver for The Vaccine & Gene Therapy Institute, which plans to shut down Oct. 1, leaving the city on the hook for bond payments.

Scranton, Pa., has chosen a National Development Council bidding team to operate its parking assets under a P3 that could improve the city’s reputation in the bond markets.

Illinois-based College of DuPage fired its top two fiscal managers – treasurer Thomas Glaser and controller Lynn Sapyta – accusing the two of violating school investment practices and other internal rules.