Bankruptcy

Australian fund manager IFM Investors has paid $5.72 billion to lease the Indiana Toll Road for 66 years, marking the largest privatization for an existing U.S. asset and the first time major US pension funds have invested in American infrastructure.

A new report identified five struggling Chicago-area suburbs as most vulnerable to a Chapter 9 filing if state law is changed to permit it.

A U.S. Supreme Court ruling that found fault with Maryland's personal income tax collection scheme will cost localities in the state millions of dollars but may not impact their credit ratings, analysts and government officials said.

El Paso Children’s Hospital's bankruptcy filing led to board resignations and the threat of a rating downgrade, though $120 million of bonds appear well secured by a general obligation pledge.

Work on North Carolina’s Interstate 77 express toll lane project will begin this summer with a lawsuit pending and over recent objections filed by some communities.

San Bernardino, Calif. enters the final stage of its Chapter 9 bankruptcy with a plan for its pension obligation bondholders to take it on the chin.

A measure to overhaul Cook County’s troubled pension system advanced in the Illinois legislature, but the state Supreme Court’s recent pension ruling continues to cast a pall over the county’s efforts.

El Paso Children’s Hospital filed for Chapter 11 bankruptcy protection on May 19 after negotiations over a debt to county-owned University Medical Center fell apart, officials said.

Nearly two weeks after the Illinois Supreme Court struck down the state’s 2013 pension overhaul, state lawmakers, local government leaders, and legal experts struggle for an alternative the court would accept.

San Bernardino, Calif. is now planning to give bondholders significantly worse treatment than they have received in any municipal bankruptcy to date, Moody’s Investors Service said in a comment piece.

A former Oklahoma lawmaker is seeking to have $2 billion of budget bills from the past three years declared unconstitutional by the state Supreme Court.

Florida’s private passenger train developer has hired Miami-based contractor Archer Western to upgrade a 66-mile segment of rail infrastructure between Miami and West Palm Beach.

California charter school chain Magnolia Public Schools will rekindle its growth plans after settling a lawsuit against the Los Angeles Unified School District, which had tried to shut down Magnolia’s schools there.

Moody’s Investors Service labeled the Illinois Supreme Court’s voiding of the state’s 2013 pension system overhaul a “credit negative” for the state’s A3 bond rating.

Arguing time is the enemy, Chicago attorneys successfully argued for a fast-track hearing on a pair of lawsuits challenging pension reforms that took effect in January.

The developer of the private All Aboard Florida passenger train expects to complete the project even if it cannot benefit from $1.75 billion in tax exempt private activity bonds, according to documents filed in federal court.

San Bernardino bondholders suffered a key bankruptcy court defeat this week as the city’s bankruptcy exit plan advances.

Jefferson County, Ala., officials traveled to New York to meet the “financial community” and rating agencies on the county’s progress since existing bankruptcy.

After years of financial problems, the school district of Gary is poised to become Indiana's first local government to be taken over by an emergency financial manager.

A Nebraska bill to give bondholders priority over other creditors in the event of a municipal bankruptcy is not likely to pass in the 2015 legislative session as different interest groups negotiate its language.