Bankruptcy

Park View School Inc., a charter school operator in Prescott Valley, has filed for bankruptcy following years of financial mismanagement and a lawsuit from the SEC.

Talks between original holders and a law firm over potential securities fraud litigation did not pan out, and trustee UMB NA has canceled all the bonds.

Some observers of Puerto Rico politics are concerned its government continues to avoid fiscal responsibility, ignoring past mistakes that led to the bankruptcy.

A nonprofit Texas-based retirement community operator filed for Chapter 11 bankruptcy on Monday to deal with its troubled debt and sell its assets.

Bondholders will vote on a Chapter 9 bankruptcy exit plan that would pay full principal and interest on Atoka County Medical Center bonds.

A judge has set a March 23 hearing on the Atoka County Healthcare Authority’s disclosure statement for its plan to end a five-year-long bankruptcy.

Mamtek US's long-running Chapter 7 bankruptcy is expected to pay out $1.6 million to the trustee for the $39 million defaulted Moberly, Missouri, bond issue.

Attorneys say the first step is to get a court to stay enactment of the Plan of Adjustment, but that it is unlikely.

The bankruptcy judge is unlikely to rule on the Plan of Adjustment and related legal documents until the federal government has filed its defense.

The credit unions had bought $976 million of Puerto Rico bonds and notes, which they alleged they were coerced to purchase by Puerto Rico government and its agencies.

The legislation Gov. Pedro Pierluisi signed late Tuesday is sufficient to issue new bonds, the board said, which was integral to getting the island out of its $33 billion bankruptcy.

A lawsuit accusing underwriter Stifel of negligence on one bond issue is pending and broader claims related to the financings are being considered.

Nathan Coco and Megan Preusker joined the firm this month, deepening the expertise offered by the firm's bankruptcy and restructuring practice.

Authorization to sell new bonds to replace existing debt is a necessary step to help finalize the island territory’s record bankruptcy.

New leaders could create a joint blueprint while sidestepping another fiscal cliff, said Peter Goldmark, a major player when the city nearly went bankrupt.

The “tool kit” legislation expands powers of the Local Government Commission, including a last-resort legal process for voluntary or involuntary dissolution.

Having earnestly settled with every major constituency, it is time for the Board to do the right thing by abandoning unnecessary pension cuts and freezes.

Lawyers for the commonwealth warned that Puerto Rico’s legislature will not pass the legislation for new bonds needed by the plan of adjustment if the plan cuts pensions.

The Oversight Board struck a deal with the main group of the territory’s unsecured creditors, easing the path to final court approval of a debt restructuring.

Board says all the objections to disclosure statements are without legal merit or should be addressed at the plan of adjustment confirmation.