Bankruptcy

The National Museum of American Jewish History in Philadelphia filed for Chapter 11 this week, burdened by debt sold to construct its building.

Spiotto, considered the "dean of municipal restructuring," died suddenly on Thursday.

The Illinois attorney general's office is also believed to be looking into the foundation, which issued $170 million of tax-exempt bonds that have defaulted.

Bankruptcy hearings are underway for Lindan Properties, one of five troubled bond-financed Better Housing Foundation affordable housing portfolios in the area.

The state conduit that issued $170 million of defaulted Better Housing Foundation bonds is weighing in as S&P prepares housing bond criteria changes.

Recoveries would be from 65% to 77% for general obligation and Public Building Authority bondholders.

A proposed asset sale would resolve — with a loss for bond investors — one of five Better Housing Foundation-owned portfolios in default in the Chicago area.

Scott Wiener plans to introduce a bill later this week outlining a plan to take over the bankrupt investor-owned utility.

An Oversight Board lawyer said that an announcement might be made in the next 30 days.

Gavin Newsom's filing urges the judge overseeing the utility's Chapter 11 not to approve bankruptcy exit financing commitments.