Bankruptcy

The effects of COVID-19 on Puerto Rico are severe and the island's capacity to repay its debt has changed. The Oversight Board's objectives in the debt-restructuring process, however, have not.

The Westin Lombard Yorktown Center in Chicago's suburbs reopened over the summer, but isn't drawing enough business to cover a Jan. 1 debt service payment.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

City officials say the continuation of enhanced taxing authority from Pennsylvania will help it refinance debt and avoid another fiscal cliff.

The second bankruptcy of the Las Vegas Monorail was much smaller than the first, and bondholder Preston Hollow LLC is getting paid a full $22 million.

Moody's dropped the Chicago Archdiocese' rated debt by three notches to Ba1.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

Paying post-petition bond interest to an unsecured creditor during the archdiocese's Chapter 11 bankruptcy is unusual, attorneys say.

The COVID-19 pandemic pushed the Henry Ford Village continuing care retirement community over the fiscal cliff and into a Chapter 11 filing.

TMI Trust agreed to a settlement that allows bondholders to be paid interest during the Chapter 11 case of the Roman Catholic Archdiocese of New Orleans.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

Details of the pending investigation are sketchy but the legislation improved the value of a then-bankrupt FirstEnergy subsidiary's municipal bonds.

The Oversight Board said that it expects to know by Oct. 25 whether it can propose a new plan of adjustment.

Laura Taylor Swain said she will decide some of the bond insurers' arguments when she resolves continuing adversary proceedings.

Federal authorities arrested Ohio House Speaker Larry Householder on charges he took bribes to support legislation that benefited bankrupt FirstEnergy.

The bond-financed Chicago-area hotel and conference center remains shuttered as a result of the coronavirus health crisis.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.

The chapter had financial difficulty before the pandemic and wanted to refinance its debt.

California Public Utilities Commission approval is one hurdle for PG&E, which must exit bankruptcy by June 30 to qualify for a $21 billion bond fund.

Fairfield, Alabama, weighed down by fiscal problems long before the coronavirus hit, filed for bankruptcy saying it is insolvent.