Bankruptcy

Michigan Attorney General Bill Schuette issued an opinion that Detroit's Downtown Development Authority has the constitutional authority to use its funds for a new $650 million public-private hockey stadium and entertainment district.

Seven St. Louis County local governments, including Ferguson, face litigation challenging the legality of their municipal court fees.

Detroit issued $1.28 billion of new debt that its bond team says required novel financing structures to satisfy both Michigan municipal law and the strict confines of Chapter 9 creditor settlements.

Georgia Gov. Nathan Deal created a special agency and brought in anew attorney for the state's defense in the lawsuit over water rights filed by Florida.

The Illinois Supreme Court agreed Wednesday to an expedited review of Illinois' appeal of a lower court ruling overturning state pension reforms.

A San Francisco Superior Court judge will decide in January whether to uphold a decision to terminate the accreditation of the City College of San Francisco.

The largest municipal bankruptcy in the U.S. formally ends at 12:01 a.m. Dec. 11, and Detroit will begin fresh with local control and $7 billion less debt.

Atlanta unions have filed for an appeal of the Fulton County Superior Court's Nov. 10 ruling that tossed their lawsuit challenging the city's landmark pension reform package.

The U.S. Supreme Court has appointed an attorney from Maine as case manager for the lawsuit that Florida filed against Georgia in a dispute over water rights.

Detroit emergency manager Kevyn Orr said he is leaving the city with a new budget that would have a $100 million surplus after two years.

On Wednesday morning the FBI arrested an official in the Puerto Rico Highways and Transportation Authority.

The Federal Bureau of Investigation seized 20 boxes of documents Tuesday related to purchases made through Los Angeles Unified School District's $1.3 billion plans to provide iPads to every student.

Detroit emergency manager Kevyn Orr said he plans to resign from his position in the new few weeks and that he hopes the city will be allowed to formally exit bankruptcy by Christmas.

U.S. District Judge Sharon Blackburn on Tuesday said that Jefferson County can file a petition with the 11th Circuit Court of Appeals in Atlanta in the county's bankruptcy appeal, while reframing the question, which is critical to holders of Jefferson County sewer warrants.

A jury trial is scheduled in the challenge to Rhode Island's landmark pension overhaul law, and a citizen jury represents a wild card in the case, say legal experts.

A federal judge has sentenced former Ohio deputy treasurer and Chicago comptroller Amer Ahmad to 15 years in prison for his role in kickback scandal involving state investment business at the Ohio treasurer’s office.

A beleaguered Victorville, Calif. airport authority notified bondholders in a filing that it expected to default for the seventh time on bonds it issued to redevelop the airport from military to civilian use.

The U.S. Department of Housing and Urban Development is seeking a buyer for the Lakeway Regional Medical Center after the Austin area hospital defaulted on a $164 million HUD-guaranteed mortgage.

Officials of Bell, Calif., the Los Angleles-area city where the former administration was jailed earlier this year for misappropriation of funds, said the tax-exempt status of $35 million in general obligation bonds that came under review by the Internal Revenue Service has been preserved.

If San Bernardino follows Stockton and Vallejo's example by impairing its bond creditors, it consolidates a pattern in California Chapter 9 cases in which pensions fare better than lease-backed and pension-obligated bondholders.