Bankruptcy

Bond insurer Financial Guaranty Insurance Company has asked the bankruptcy court overseeing Detroit's Chapter 9 to allow it to intervene in a city lawsuit that attempts to repudiate $1.4 billion of pension certificate debt.

Six months after first announcing a deal, bankrupt Detroit is still struggling to secure a key debtor-in-possession loan with Barclays.

A judge denied a challenge filed by San Jose Mayor Chuck Reed and other supporters of the Pension Reform Act of 2014, causing them to delay placing the measure on California's November 2014 ballot.

Harrisburg, Pa., made a $4.7 million general obligation bond payment, its first such payment in three years.

Courtroom sparks continue to fly between California and former redevelopment agencies nearly two years after the state's highest court ruled in favor of dismantling the tax-increment financing program that had been created to fight blight.

Federal Judge Kimba Wood, who imposed $5.6 million in fines and restitution on municipal bond bid-rigger David Rubin, called prison unwarranted for the founder of CDR Financial Products.

A federal judge sentenced CDR Financial Products Inc. founder David Rubin to two years' probation and ordered him to pay a combined $5.65 million in fines and restitution for his role in rigging bids for municipal bond contracts.

Detroit's high-profile battle with its bondholders will likely have limited impact in the national market, as general obligation pledges vary widely across the country, Moody's Investors Service said in a new report.

A federal judge has ordered seven defendants to disgorge millions in ill-gotten gains and imposed other administrative penalties stemming from a pay-to-play case involving the New York State Common Retirement Fund.

The bankruptcy litigation surrounding Detroit's general obligation bonds is unlikely to have a broad legal impact on the meaning of the GO pledges in bonds nationwide, says Moody's Investors Service in a report.

Arizona's police and firefighters pension fund has been ordered to submit documents as part of a criminal investigation, according to the Arizona Republic.

The attorney representing a Rhode Island agency in the lawsuit against failed video-game company 38 Studios denied a state senator's request for exhibits.

The SEC and former JPMorgan bankers asked a federal court not to exclude experts in the pay-to-play suit involving Jefferson County, Ala.'s sewer deals.

The Kansas Supreme Court upheld a lower court ruling that the state's funding for public schools violates the state constitution.

Market observers say no Detroit scenarios are on the Northeast municipal finance horizon and some situations have improved, notably in Pennsylvania and Rhode Island

The sentencing of municipal bond bid-rigger David Rubin has been postponed to 3:30 p.m. March 12.

U.S. Bankruptcy Judge Steven Rhodes pushed back by one month a trial date on the city's plan of debt adjustment after bond insurers and other creditors asked for more time to respond to the controversial plan.

Detroit in a court filing Thursday said it has reached agreement with Barclays Inc. for a $120 million debtor-in-possession financing.

Detroit Wednesday asked the bankruptcy court to set a March 20 date for a hearing on its latest settlement with its interest-rate swap counterparties, calling it key to the city's overall plan of debt adjustment.

Colorado approves a $490 million public-private partnership to redevelop U.S. 36, but a Boulder group renews its threat of a lawsuit.