Bankruptcy

Illinois released new pools of underwriting, financial advisory, and legal firms for bond sales over the next two years with the most notable change being the state's selection of a new sole bond and disclosure counsel.

Steven Rhodes, judge in the Detroit bankruptcy case, will rule Thursday afternoon on whether to accept or reject the city's controversial settlement with its interest-rate swap counterparties.

The North Carolina State Employees Association filed a public records request to investigate the $83 billion Teachers' and State Employees' Retirement System.

Mediators in Detroit's bankruptcy case unveiled a tentative plan created by a group of local and national foundations that have already raised $330M that could be used for some of the bankrupt city's unfunded pensions – as long as the city promises to preserve its storied art collection.

Minnesota delayed $468 million of state general fund appropriation bonds for a new Minnesota Vikings football stadium due to the 11th hour filing of litigation that challenges the financing arrangement.

Veteran Chicago-based public finance attorney Chuck Katz has joined Polsinelli PC as the firm continues to build its business nationally across legal practices.

The New Mexico Supreme Court's ruling in favor of the state's new pension reform law is a positive credit factor for the state, according to Moody's Investors Service.

Moody's Investors Service withdrew its Ca ratings on Jefferson County, Ala.'s sewer warrants as a result of the county's exit from bankruptcy.

Jefferson County's exit from Chapter 9 bankruptcy sparked interest in general obligation bondholder protections in Alabama, Moody's Investors Service said.

A coalition representing Detroit retirees sued in federal court to block the city from implementing health care changes that would shift older employees to Medicare and younger ones to the state-based health care exchange.

Detroit's negotiations this week with holders of the city's nearly $6 billion of water and sewer bonds went well enough that one investor said a settlement is likely.

Sen. Dominick Ruggerio's bill would ban use of retirement system funds to pay Rhode Island's legal cost as it defends the unions' court fight of pension changes.

Bell, Calif., which achieved national notoriety after corrupt leaders pilfered city coffers, has turned a financial corner with the aid of court settlements and a $15 million property sale.

A suit before the Florida Supreme Court seeks an order compelling Gov. Rick Scott to appoint a lieutenant governor. The position's been vacant for nearly 10 months.

The Michigan city of Benton Harbor, which is under emergency management, hopes to win a $2.3 million loan from the state to erase its deficit.

Three complaints have been filed challenging the constitutionality of the pension overhaul Illinois passed in December, and others are expected to follow ahead of the law's effective date in June.

Detroit emergency manager Kevyn Orr reversed a decision to close the bankrupt city's pension system for non-public safety employees and shifted it into a 401(k)-style defined contribution retirement plan.

The Missouri Supreme Court upheld a lower court decision dismissing the city of Moberly and its industrial development authority as defendants in a bondholder lawsuit targeting the underwriter of $39 million of city bonds issued for a failed artificial sweetener plant.

Bondholders who took ownership of the St. Louis convention center hotel complex four years ago hope to close next month on the sale of the complex's two hotels in separate transactions totaling about $29 million.

One of two appeals of Jefferson County, Ala.'s bankruptcy plan of adjustment will be dropped.