Bankruptcy

The Illinois attorney general won't ask the U.S. Supreme Court to review the the Illinois Supreme Court’s voiding of the state’s 2013 pension reform legislation.

Tuesday’s ouster of United Airlines’ CEO Jeff Smisek and two senior officials at the carrier in the midst of a federal investigation related to dealings with the Port Authority of New York and New Jersey has brought new scrutiny to the transportation agency.

A statutory lien may not be enough for investors in light of the severe financial stress facing Detroit Public Schools, investors say.

A group of Jefferson County, Ala., residents told an appellate court they were denied constitutional protections in the rush to end the county’s “large and complicated” Chapter 9 bankruptcy in 2013.

Multiple New Jersey public sector unions have petitioned the U.S. Supreme Court to review a recent state Supreme Court ruling that allowed Gov. Chris Christie to cut pension funding.

Gov. Gina Raimondo and other Rhode Island officials will push for a bond rating upgrade when they meet with rating agencies.

Florida's Martin and Indian River counties launched new legal challenges to the private All Aboard Florida passenger train project within days of a scheduled $1.75 billion bond offering.

Griggs County, N.D. is suing its own building authority to get out of lease payments supporting a controversial bond deal that sparked a recall of the entire county board.

The stark political divisions around the idea of allowing Chapter 9 bankruptcy in Illinois were highlighted at a recent legislative hearing.

A state judge has effectively pulled back the curtain that has long shrouded the controversial 38 Studios loan guarantee. And Rhode Island is waiting.

Pennsylvania Auditor Eugene DePasquale will audit Allentown's school district for possible violations of sunshine and ethics laws.

Metropolitan Water District of Southern California plans to appeal an adverse ruling on claims it overcharged the San Diego Water County Water Authority.

Hillview, Ky.'s bankruptcy filing offers more evidence that municipalities increasingly consider filing for reorganization as a way to cure balance-sheet problems, according to Moody's Investors Service.

The Detroit suburb of Allen Park wants bondholders to sell back at par $31 million of bonds floated for a now-failed film studio that the city blames for a long financial decline.

Washington State is racking up court-imposed penalties approaching $2 million, a positive for the credits of school districts in the state, Moody's Investors Service said this week.

New York City paid out $495 million in settlements and judgments in fiscal 2013 and a further $550.3 million in 2014, said city Comptroller Scott Stringer.

A Rhode Island judge ordered the release of all documents in the state's lawsuit over the failure of 38 Studios, the video game owned by former Boston Red Sox pitcher Curt Schilling.

The California Supreme Court declined to review an appeals court's decision on a contested financing method used by Fresno Unified School District.

The legal battles over funding for the distressed Chester Upland, Pa., School District's charter schools have triggered debate over investor risk.

The National Association of Bond Lawyers has updated its bankruptcy guide for members with new information drawn from the relatively high number of municipal bankruptcy filings in the last few years.