Bankruptcy

In a major boost for California's high-speed rail project, the California Supreme Court declined to consider petitions challenging funding for the state's bullet train.

The mayor of bankrupt San Bernardino and the city's police union both claim the other side attempted to violate the terms of a tentative contract agreement reached in confidential mediations.

Moody's Investor’s Service returned Vadnais Heights, Minn.'s general obligation bonds to low investment grade, now that a resolution is in place on $27 million of bonds that defaulted after the city failed to honor a pledge on a sports complex.

Sound fiscal practices are vital for Pennsylvania's distressed cities, regardless of how long they stay in the state-sponsored Act 47 workout program, analysts say. A new law will limit cities' stay in Act 47.

Detroit reached a settlement with FGIC, the last major holdout creditor in its bankruptcy case, that gives the bond insurer a mix of cash and prime downtown Detroit land to build a new hotel and condominiums.

Officials in Wayne County, Mich., are contemplating the fate of a half-built, bond-financed jail in downtown Detroit that has been abandoned for more than a year amid major cost overruns and an FBI investigation.

Four years after the Sunshine state passed a law authorizing PACE project financing, billions in bonds face legal challenges before the Florida Supreme Court.

Texas Attorney General Greg Abbott reached a settlement with Houston-area financial advisor R. Craig Rathmann, accused of colluding with RBC Capital Markets to limit competition on bond deals for municipal utility districts.

Investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to a amended forbearance agreement that gives the struggling Ozarks air field more time to pick up operations.

Doral Financial in San Juan, Puerto Rico, has prevailed in its court battle with the territory's Treasury Department over a substantial tax refund.

Attorneys for bankrupt Detroit and bond insurer Financial Guaranty Insurance Co. said in court that they plan to finalize an agreement by Thursday, a move that would mean the city would have support from all major creditors for its bankruptcy exit plan.

The new regional authority taking over Detroit's Water and Sewerage Department should be a positive for holders of existing DWSD debt, Moody's Investors Service said Friday.

Jefferson County said Friday it will appeal an Alabama federal judge's ruling that threatens investors' security in $1.8 billion of sewer warrants sold last year.

The Chapter 11 bankruptcy of a public benefits corporation in Kentucky highlights the risks associated with such agencies, Moody's said.

A deal to create a new bond-issuing authority to take over the troubled Detroit Water and Sewerage Department advanced this week with the remaining counties approving the plan.

At The Bond Buyer's California Public Finance Conference, Schiff Hardin's Rick Frimmer discussed the implications of recent developments in municipal bankruptcy.

An Alabama federal judge set a July 2015 trial date for two ex-JPMorgan bankers facing pay-to-play charges in Jefferson County's sewer deals and swaps.

Moody's Investors Service warned Wednesday it may downgrade Detroit's Ca-rated certificates of participation, saying it expects to resolve the outlook when and if the bankrupt city settles with the bond insurer that wraps the bulk of the certificates.

The Civic Committee of the Commercial Club of Chicago said it plans an initiative to promote a dialogue on the consequences should the Illinois Supreme Court overturn pension reforms adopted last year.

The most-traded P3 bonds have rallied this year, and retained gains since the Sept. 22 bankruptcy filing by the manager of the Indiana Toll Road.