Bankruptcy

Reno, Nevada, conducted a special budget workshop July 15 in an attempt to plug a $2 million hole created when a Washoe County District Judge filed an injunction on June 24 preventing the city from laying off 33 firefighters

The 6th Circuit Court of Appeals set an accelerated two-week schedule to consider bond insurer Syncora Guarantee's appeal of a key decision in Detroit's bankruptcy case.

A ruling that Stockton's pension obligations can be treated the same as other contracts in municipal bankruptcy would have significant impacts on some local government bondholders in California, according to Moody's Investors Service.

Moody's Investors Service shifted its outlook on Arizona Sports and Tourism Authority's A1 rating to negative after a court overturned the car-rental tax backing $282 million of stadium bonds.

Bankruptcy court filings indicates mediation dates have been set for insurers to wrap San Bernardino's bonds to negotiate their fate in the city's Chapter 9 bankruptcy case.

Detroit's newest bondholder settlement calls for a 66% haircut for limited-tax general obligation bondholders, a deal that's severe but unsurprising given Detroit's credit, muni experts said.

Gov. Tom Corbett's line-item veto of Pennsylvania's $29.1 billion budget jeopardizes the Harrisburg recovery plan, said state Sen. Rob Teplitz.

With its emergency manager warning of a possible bankruptcy, the city of Flint is hoping a temporary court ruling allowing it to cut retiree health care benefits will bring some relief to its 2015 budget.

As the legal fight over Puerto Rico's Recovery Act heats up, Argentina and Arkansas provide roadmaps to what may lie ahead.

The Illinois Supreme Court's decision that state constitutional protections of pension benefits apply to retiree healthcare premium subsidies "casts doubt" on recent local and state pension reform efforts, Moody's Investors Service said.

Florida has hired legal counsel to sue the bankrupt Digital Domain over $20 million in state incentive funding.

Syncora lost a key appeal in the Detroit bankruptcy case, giving the city continued access to crucial casino revenues.

Ceding to the city, the San Bernardino Police Officer's Association decided not to ask the bankruptcy judge to set a deadline for the city to file a plan of adjustment in a filing Monday.

Puerto Rico Resident Commissioner Pedro Pierluisi is exploring whether Congress might be willing to amend the federal bankruptcy code to allow government-owned corporations in Puerto Rico to file for bankruptcy.

Detroit's settlement with its limited-tax general obligation bondholders would repay them 34 cents on the dollar, the lowest recovery rate reached in a deal so far in the case.

A federal judge agreed to reopen a Department of Justice housing discrimination suit against the Louisiana State Bond Commission.

A new assessment of Detroit's art collection puts its price tag at up to $4.6 billion, significantly higher than the city's first valuation and more in line with bond insurers' estimates.

A Stockton bankruptcy court hearing provided clarity on collateral involved in the case, and hints about the judge's thoughts about the city's pension liabilities, but decisions on the city's exit plan will wait until October.

Opponents of the Atlanta Braves' $672 million stadium in Cobb County intervened in the proceeding to validate $397 million of bonds for the new Major League Baseball facility.

Lead Harrisburg plan attorney Mark Kaufman and his firm, McKenna Long & Aldridge, received an award for its financial restructuring of Pennsylvania's capital.