Bankruptcy

The Vaccine & Gene Therapy Institute announced Friday that it will wind down operations by Oct. 1, leaving Port St. Lucie, Fla., on the hook for bond payments.

Bondholders could receive up to a 30% recovery on Nevada County, Calif. dirt bonds that went into default 23 years ago as part of a bankruptcy workout.

Pennsylvania issued a request for proposals to hire a law firm to initiate clawback from participants in the Harrisburg incinerator bond financing fiasco.

The Illinois Supreme Court will consider Chicago's appeal of a lower court ruling voiding its 2014 pension reform legislation under an expedited timetable leading to oral arguments this November.

Over 100 local state-side government officials signed a letter calling for Puerto Rico to be allowed to declare bankruptcy.

The authors of a California ballot initiative that would restructure public employee pensions said they will commission a legal review of the measure's "title and summary" before gathering signatures.

Lobbying efforts more than doubled in the second quarter of this year over pending legislation that would give Puerto Rico utilities and authorities access to Chapter 9 bankruptcy protection.

Wayne County's proposed consent agreement with the state requires the county to continue to make timely debt payments and enhances the government's power over collective bargaining.

The indictment of Pennsylvania Attorney General Kathleen Kane should have little effect on the prosecution of former Harrisburg Mayor Stephen Reed, legal observers say.

Are a statutory lien and other state-crafted protections on Detroit's first post-bankruptcy bond sale enough for investors assessing the city's long-term recovery?

Long Island, N.Y., governments will benefit from a New York state appellate court decision to allow a lawsuit to prevent the Long Island Power Authority from challenging the assessment on its Northport, N.Y. power plant, according to Moody's Investors Service.

Continuing patient losses and a 2014 Department of Justice settlement factored into Moody's two-notch downgrade for King's Daughters Medical Center in Kentucky.

Detroit emerged from bankruptcy poised to rebuild through major infrastructure projects, former emergency manager Kevyn Orr said in Boston.

The Rhode Island Commerce Corp. agrees to a $12.5 million proposed settlement with four defendants related to the 38 Studios fiasco.

Standard & Poor's said it would wait to see the terms of Wayne County's consent agreement with the state before taking action on the junk-rated county.

Detroit's bankruptcy and Puerto Rico's default are similar to New York City's mid-1970s crisis, public finance veteran Richard Ravitch says.

Los Angeles has agreed to return control of LA/Ontario International Airport to an Ontario, Calif.-based local authority.

The Wayne County, Mich., board opted to enter a consent agreement with the state government, one of the four choices it had to deal with the county's financial emergency.

All Aboard Florida, the nation's first privately owned passenger rail, plans to quickly begin marketing $1.75 billion of private activity bonds after a key vote sealing the deal late Wednesday.

Detroit is nearing its first public bond sale since bankruptcy as it posted bond documents for the deal on Thursday.