Bankruptcy

The Clearwater Cay Community Development District dismissed its Chapter 9 case and will pursue a dispute about property assessments in state court.

The agreement with wildfire victims will enable the bankrupt investor-owned utility to hit a deadline to participate in wildfire claim fund, its says.

The risk of a state takeover of the bankrupt utility, which Gov. Gavin Newsom has suggested, is not incorporated into California's rating, S&P said.

One plan would convert the investor-owned utility into a customer-owned cooperative, while local governments and agencies look at municipalizing PG&E assets.

New York’s Suffolk County Off-Track Betting Corp. is suing the operator of a video lottery terminal parlor opened to support its Chapter 9 restructuring.

The shuttered College of New Rochelle filed for Chapter 11 bankruptcy last week while it markets the Westchester County campus in an effort to pay off creditors.

The community development district filed for Chapter 9 in the face of a longstanding unwritten policy of governors refusing to approve such filings.

Managing Director, Miller Buckfire & Co.

The Clearwater Cay Community Development District’s bondholders and trustee say the required approval from the governor wasn’t obtained.

Some of the solutions contemplated to bring the investor-owned utility out of bankruptcy involve tapping the municipal bond market.