Bankruptcy

Opponents of California's $68 billion high-speed rail plan filed a petition to review a recent ruling that allows the $8.7 billion bond issuance for the project.

The trustee on $8.5 million of revenue bonds issued to finance a wastewater treatment facility to support a now bankrupt meat processing company in a Chicago suburb has struck a deal to sell the bond-financed assets at a steep discount to the company that's taken over the bankrupt firm.

Barring any last-minute settlements with bond insurers, Detroit will begin defending its plan to restructure debt and begin to rebuild the battered city.

Eleven months after the close of fiscal 2013, Jefferson County, Ala.'s audit sheds little light on the county's financial condition since emerging from bankruptcy.

The judge overseeing Detroit's bankruptcy chastised bond insurer Syncora Guarantee Inc. for attacking federal mediators as biased and ordered the insurer to defend why it shouldn't face sanctions.

The Texas system for financing public schools remains in violation of the state constitution even after lawmakers restored some of the $5.4 billion cut in the 2011 session, state district court judge John Dietz ruled Thursday.

Detroit has finalized an agreement with Barclays Capital Inc. for up to $275 million in financing to exit Chapter 9 bankruptcy as the city gears up for a trial next week on its confirmation plan.

Former Orlando-Orange County Expressway Authority board member Scott Batterson was found guilty of bribery in a case that highlighted authority business, including bond discussions, being done in a backroom fashion despite state “sunshine” laws.

Opponents of bond financing for the Atlanta Braves new $672 million baseball stadium have filed notices of three appeals by the court's deadline.

A federal lawsuit seeking to halt Maryland's $2.4 billion Purple Line light rail project says track work will threaten endangered species.

John Campbell, charged with theft from a local nonprofit, resigned as city treasurer in distressed Harrisburg, Pa., and surrendered to prosecutors.

Detroit said it stands behind the proposed $815 million 'grand bargain" as the best solution to aid pensioners and protect the city art museum's collection, rejecting an offer from Art Capital Group for a $4 billion loan with the art collection serving as collateral.

Detroit’s $1.8 billion water and sewer revenue bond sale this week drew about $7.6 billion of orders, officials said, allowing the city to lower interest rates and carve out some additional savings.

Harrisburg, Pa., Mayor Eric Papenfuse said the scandal surrounding city Treasurer John Campbell's alleged theft from a nonprofit does not extend to city finances.

The judge in charge of mediation in the Detroit bankruptcy case ordered a new round of talks between the city and holders and insurers of $1.4 billion of pension certificates of participation.

Harrisburg, Pa., Treasurer John Campbell has been charged with theft from a nonprofit he used to run, said Dauphin County District Attorney Ed Marsico.

Lawyers involved in a conduit bond financing for a charitable nonprofit organization should decide as soon as possible which of them is responsible for ensuring the tax-exempt status of the borrower, the National Association of Bond Lawyers concludes in a just-released paper.

The trustee on $20 million of unrated bonds issued for the bankrupt Leafs Hockey Club in suburban Chicago hopes to reach a debt restructuring deal with the club by early October but the two sides remain at loggerheads over the club's fiscal prospects.

Standard & Poor's raised Detroit's water and sewer revenue bonds three levels up from junk bond territory ahead of the city's $1.8 billion sale of mostly refunding bonds, offering a more positive assessment than Fitch Ratings or Moody's Investors Service.

Detroit plans to sell $1.8 billion of water and sewer bonds Tuesday through the Michigan Finance Authority in a transaction that allows it to finance the purchase of $1.5 billion of tendered bonds and further its efforts to exit bankruptcy.