Bankruptcy

Stockton, Calif., chief financial officer Vanessa Burke, who weathered the storm of the city's bankruptcy, has joined Urban Futures, Inc.'s public management team.

Jefferson County, Ala.'s planned return to the municipal market two years after exiting bankruptcy may prove challenging, especially if the bonds arrive without external support, municipal analysts and investors said this week.

Sens. Chuck Schumer, D-N.Y., and Richard Blumenthal, D-Conn., unveiled a bill on Wednesday to allow Puerto Rican public entities to declare Chapter 9 bankruptcy.

Mayor Stephen Reed "could not have acted alone," Pennsylvania Attorney General Kathleen Kane said in announcing corruption charges.

Nebraska relies on Chapter 9 as a quick and easy way to restructure troubled special taxing district debt.

This month's $18.7 billion agreement with BP p.l.c. positions struggling Gulf coast states to receive financial relief, though the years-long payout won't provide immediate respite for some.

A New Jersey tax court ruling stating that one of its nonprofit hospitals is not exempt from property tax payments from 2006 to 2008 is unlikely to have implications in other states, according to Fitch Ratings.

Chicago's top lawyer and attorneys for unions and pension fund members laid out their arguments before the court Thursday.

A battle between Fresno Unified School District and a developer playing out in California courts could be costly for the state's school districts.

The House Judiciary Committee is unlikely to pass legislation that would give Puerto Rican public municipalities and utilities the ability to file for bankruptcy under Chapter 9, committee chair Bob Goodlatte, R-Va., said in a Wednesday statement.

Months after the original private owner of the publicly owned toll road went bankrupt, the new owner, Australian fund manager fund IFM Investors, is set to complete the financing of its takeover bid next week.

Chicago and unions challenging its overhaul of the municipal and laborers’ pension funds square off in court Thursday with the city’s efforts to stabilize its rocky fiscal foundation at stake.

Conditions in Jefferson County, Ala. are improving after its bankruptcy exit and the county is preparing for its first municipal bond market appearance since its 2013 exit from bankruptcy, said County Commission President Jimmie Stephens.

Illinois Comptroller Leslie Geissler Munger plans an appeal of a court decision barring her from meeting the full state payroll without a fiscal 2016 in place, a decision that ups pressure on state leaders to resolve a budget impasse.

A Pittsburgh grand jury looking into Harrisburg's finances has received a six-month extension to Jan. 31.

A recent New Jersey Tax Court ruling that most of the Morristown Medical Center campus did not qualify for a local property tax exemption from 2006 to 2008 is a credit negative for the state's non-profit hospitals, according to Moody's Investors Service.

Illinois Attorney General Lisa Madigan and Comptroller Leslie Geissler Munger want the state courts to provide more clarity on what can be paid without a fiscal 2016 budget in place, including whether the state can meet its payroll.

The Georgia Supreme Court Monday ruled that $368 million of bonds to finance the Atlanta Braves' $672 million baseball stadium were properly validated by a lower court.

The Supreme Court has declined to hear the case of ex-Miami, Fla. budget director Michael Boudreaux, sending the former official and the city back to court to fight a Securities and Exchange Commission lawsuit in a move some lawyers fear could hurt municipal officials' abilities to do their jobs.

The New Jersey State Legislature has approved a package of bills aimed at stabilizing Atlantic City's finances.