Bankruptcy

The National Federation of Municipal Analysts presented its annual awards during its conference here on Wednesday, honoring four individuals and an organization for contributions to the municipal bond industry.

In what could be the final chapter in its Chapter 9 proceedings, Stockton will head to court next week to try and convince a U.S. bankruptcy judge that it has a recovery plan that will work.

Puerto Rican investors in municipal bond closed-ended funds run by UBS AG, Banco Popular and Popular Securities sued the firms.

Michigan lawmakers Tuesday created a special committee to deal with Detroit's bankruptcy and recovery ahead of legislation outlining a state contribution that could be unveiled as soon as Thursday.

Rhode Island Secretary of State Ralph Mollis has begun to probe possible violations of lobbying rules involving Curt Schilling's 38 Studios video-game company.

Some of Kansas Gov. Sam Brownback's former aides are under investigation by the FBI for influence peddling related to the state's $3 billion Medicaid program, according to the Topeka Capital-Journal.

A federal judge in Louisiana rescheduled a housing discrimination lawsuit hearing involving the State Bond Commission at the request of State Treasurer John Kennedy.

Bankrupt Detroit Monday filed a new plan to adjust its debt that reflects recent settlement with key creditors, though deals with some bondholders remain elusive.

The board representing a major Detroit civilian retiree group board has voted in favor of supporting Detroit's proposed plan of adjustment.

S&P cut the ratings on the bonds of Tuomey Healthcare System in South Carolina two notches, to CC from CCC, citing the hospital's plan to file for bankruptcy if it fails to prevail in a federal lawsuit.

The California Public Employees' Retirement System has filed a friend of the court brief in support of appeals to Detroit's eligibility to be in bankruptcy.

A federal judge Wednesday heard arguments from Michigan attorneys defending the state's controversial emergency management law from a lawsuit that calls it unconstitutional and illegal.

Junk-rated Citrus Memorial Hospital in Florida continues to see financials decline and its ratings drop further into junk territory while its bonds continue to trade near par.

Huy Fong Foods, maker of the popular Sriracha sauce with the Rooster emblem, appears to be winning a battle in the court of public opinion with Irwindale, Calif. over odor complaints.

It is virtually impossible to predict what would happen if Puerto Rico's financial situation deteriorated to the point where it could no longer repay its debts, experts on distressed municipalities said Thursday.

An issuer's credit health may become more important to the evaluation of special revenue bonds if Detroit impairs its water and sewer debt, Fitch Ratings said in a detailed look at how it may revise criteria after the largest municipal bankruptcy in the U.S.

The record bankruptcy filing of Dallas-based Energy Future Holdings poses some risk to municipal bond issuers in parts of Texas where the company operates coal-fired power plants, according to Moody's Investors Service.

Florida lawmakers are in a last-minute push to replace the Orlando-Orange County Expressway Authority on the heels of a scandal that dogs the agency.

The banks that hold $1.4 billion of Detroit pension certificates have appealed the bankruptcy court's recent approval of a settlement with the counterparties that hold interest-rate swaps hedging the certificates.

South Carolina's Tuomey Healthcare System told bondholders Wednesday that it will file for bankruptcy if it cannot resolve a dispute with the federal government, which won a $237 million judgment against the hospital.