Bankruptcy

The Detroit bankruptcy judge Wednesday will consider a motion by bond insurers and other major creditors asking for a formal role in the assessment of the city's art collection and ways to monetize it.

Lawyers for Minnesota Management and Budget and for citizens challenging the state's $468 million bond issue for a new Vikings football stadium laid out their cases with the Minnesota Supreme Court.

Jefferson County, Ala., Commission President David Carrington said he is working on a "tell all" book about the nation's second-largest municipal bankruptcy case.

Two lynchpin bond sales under the Harrisburg, Pa., recovery plan priced within the expected range when receivership officials filed the plan in August, according to a status report.

North Carolina State Treasurer Janet Cowell has appointed a commission to recommend reform measures for the state's $83 billion pension investment program.

Bond insurer Syncora Guarantee Inc. asked the bankruptcy court overseeing Detroit's Chapter 9 case to delay the city's effort to secure a $120 million debtor-in-possession financing, saying the loan may need to be restructured in light of the court's rejection of a related swaps settlement.

Lawyers for Minnesota and for citizens challenging the legality of the state's $468 million appropriation-backed bond sale for the Vikings football stadium faced a Thursday deadline to make their case for a Minnesota Supreme Court review.

Bankruptcy Judge Steven Rhodes rejected a $165 million settlement with Detroit's interest-rate swap counterparties, delivering a major blow to the swap counterparties and a victory for the city's bond insurers, retirees, and pension funds.

Despite California Gov. Jerry Brown's efforts to reduce prison overcrowding, a favorable ruling from a U.S. District Court three-judge panel that would lift court oversight of the state's prisons has remained elusive.

State officials filed an application Thursday in the Commonwealth Court of Pennsylvania to vacate the receivership for capital city Harrisburg.

Michigan Gov. Rick Snyder has reportedly asked lawmakers to come up with $350 million to match private foundations' commitment to support Detroit's pension funds and art collection.

Harrisburg would exit receivership while remaining under state oversight under a plan by Pennsylvania officials.

Judge Steven Rhodes will rule Thursday afternoon on Detroit's interest-rate swap settlement in one of the most closely watched decisions of the city's historic bankruptcy case so far.

After nearly 40 years practicing law at Chapman and Cutler LLP, James Spiotto is leaving the courtroom to launch a new Chapman-owned consulting business to focus on municipal finance and Chapter 9 bankruptcy.

A former Pennsylvania Turnpike worker pleaded guilty and received probation in a case the judge called an "offshoot" of a pay-to-play scandal.

New Mayor Bill Peduto is smart to delay Pittsburgh's request to exit a state oversight program for distressed communities, capital markets observers say.

Florida Gov. Rick Scott on Tuesday tapped Miami-Dade County Property Appraiser Carlos Lopez-Cantera to become his lieutenant governor.

After a six-month delay to allow the market to digest Detroit's bankruptcy, Saginaw County, Mich. is bringing $52 million of pension obligation bonds to market Thursday.

The Court of Appeals, New York State's highest court, dismissed Nassau County's legal challenge to the MTA's payroll mobility tax by refusing to hear the case.

Lombard, Ill. faces the possible loss of its investment grade ratings for failing to honor its appropriation commitments and triggering payment default on hotel conference center bonds.