Bankruptcy

It will be a busy week in Detroit, with the federal judge considering to key financings that have sparked major opposition from the muni market, as well as whether creditors can appeal the recent eligibility ruling.

Robert Rizzo, former city manager of Bell, Calif., agreed on Thursday to plead guilty to federal charges of tax evasion.

Jefferson County, Ala., must retain its bankruptcy attorneys because two groups have said they plan to pursue appeals of the county's confirmation order.

About to leave an office stripped of power, Detroit Mayor Dave Bing said he restored integrity to the tarnished post and helped establish a stronger foundation for the city.

New York-based attorney Kent Rowey, who advises on public-private partnerships said bond deals in Allentown and Harrisburg, Pa., "disappointed" him as P3 projects.

Bond insurer Syncora has asked to delay a key hearing on Detroit's proposed interest-rate swap settlement and debtor-in-possession financing.

Uncertainty related to Detroit's bankruptcy filing resonates among P3 players, according to Allen & Overy's Kent Rowey, who advises on many such deals.

Angela Spaccia, former Bell, Calif. deputy city manager, was found guilty on 11 felony counts of defrauding the city of millions of dollars.

A bankruptcy judge's ruling in Detroit that pensions aren't a distinct class from other creditors could bolster movement in that direction in the San Bernardino bankruptcy.

American Airlines emergence from Chapter 11 and merger with US Airways Group Inc. officially took off Monday as trading on the new company began.

Massachusetts Treasurer Steven Grossman announced a $265 million settlement related to a class action against the former Massey Energy, which now does business as Alpha Appalachia Holdings.

The Federal Transit Administration said it would give Cincinnati until Dec. 19 to reverse a recent decision to halt a controversial streetcar project or it would pull federal funding.

The federal judge overseeing Detroit's bankruptcy approved a plan for the city to issue $60 million of bonds to finance repairs to its public lighting system.

Standard & Poor's lowered Hillview, Ky.'s GO bond ratings to A-minus from A partly because the city of 7,700 residents is appealing an $11.4 million jury award.

Illinois Gov. Pat Quinn signed the sweeping overhaul of the state's pension system into law on Thursday, calling it a "serious solution to address the most dire fiscal challenge of our time." The legislation will soon face a legal challenge from unions.

U.S. Bankruptcy Judge Stephen Rhodes has released the written opinion supporting his determination that Detroit is eligible to enter Chapter 9 bankruptcy.

Bank of America Corp. has agreed to settle a federal lawsuit accusing it of rigging bids for municipal bonds, according to a published report.

An internet road show next week will precede pricing for Harrisburg, Pa., parking-lease bonds, say bankers behind a deal pivotal to the city's recovery plan.

A state agency has cleared a 40-year parking lease deal that is one of two centerpiece transactions to the Harrisburg, Pa., financial recovery plan.

Jefferson County, Ala., says its bankruptcy adjustment plan was implemented at 1:20 p.m. eastern time Tuesday, though objectors filed notices of appeal.