Bankruptcy

A lower court ruling throwing out Illinois' pension reforms isn't expected to trigger any immediate negative credit action or legislative moves, as all eyes turn to the Illinois Supreme Court.

A registered investment advisor who worked with Texas Attorney General-elect Ken Paxton could lose his securities license after a hearing Jan. 27. Paxton was fined and reprimanded for violating state securities laws in directing business to Mowery.

A judge gave the green light for Portland, Ore.'s Metro to issue bonds for a hotel project, but opponents say they will appeal the ruling.

Illinois' landmark pension reform law is headed to the Illinois Supreme Court following a lower court decision Friday that the benefit cuts violate the state constitution.

The International Municipal Lawyers Association has filed a friend of the court brief asking a federal appeals court to reconsider its decision to disregard a qualified immunity defense for Miami, Fla.'s former budget director, warning that allowing the Securities and Exchange Commission lawsuit against him to go forward would negatively affect municipalities everywhere.

At least two northwest Indiana counties put together a preliminary bid on the bankrupt Indiana Toll Road that's expected to be at least $4 billion, while three other counties opted out of the proposal.

Kentucky's Paducah Power System board will be asked to take bankruptcy off the table as an option to deal with its struggling finances, said manager Mark Crisson, because the system is solvent.

San Bernardino hires consultant to study service levels needed in the city in the hope of crafting a feasible bankruptcy exit strategy.

The state of Michigan may come to market in the next several weeks with a $450 million bond deal to finance a controversial new hockey stadium in Detroit.

A court ruling that South Carolina failed to provide a "minimally adequate" education to poor children is credit positive for low-income school districts, said Moody's.

Trends in the San Bernardino bankruptcy case put the city's bondholders on track to feel more pain than other creditors.

The Port Authority of New York and New Jersey won a court battle against the Automotive Automobile Association's efforts to block a planned December toll hike.

A federal judge wants more information on bond firms involved in a $31 million borrowing by Allen Park, Mich. that was the target of a recent SEC probe.

Charlotte, N.C., wants the FAA to settle a lengthy governance dispute between local and state officials over Charlotte Douglas International Airport.

The pending bankruptcy of the Central Coventry, R.I., Fire District has magnified debate about duplication and accountability within these jurisdictions.

The Central Coventry, R.I., Fire District appears headed for bankruptcy court after state officials and the local union remained stalled over cost concessions.

A group of northwest Indiana counties is eyeing a bid for a 75-year lease of the Indiana Toll Road that would be financed with more than $4 billion of tax-exempt revenue bonds.

Franklin Advisors, the holdout creditor in the Stockton bankruptcy, has filed an appeal challenging U.S. Bankruptcy Judge Christopher Klein's confirmation of the city's plan of adjustment.

A Chicago parks advocacy group has launched a legal challenge to block Star Wars' creator George Lucas' plans to use a site along with Lake Michigan shoreline for his proposed museum.

Culver City officials had little time to celebrate a favorable court ruling in the city's three-year dispute with the California Department of Finance stemming from the redevelopment agency wind-down process, as DOF filed an appeal three days later.