Bankruptcy

Stockton residents voted to approve a sales tax increase that will help the city fund its plan to exit Chapter 9 bankruptcy.

Former Michigan Treasurer Andy Dillon said Tuesday that he became convinced bankruptcy was inevitable for Detroit when he saw the city’s proposal for unsecured creditors.

If approved, Stockton’s plan to exit bankruptcy identifies negotiation strategies, legal ambiguities, and potential consequences for future municipal bankruptcies, according to Fitch Ratings.

Former JPMorgan bankers argue that bankrupt Jefferson County, Ala.'s swap transactions are outside the Securities and Exchange Commission’s purview.

Former Michigan Treasurer Andy Dillon may be called to testify Tuesday as the battle over Detroit's eligibility to enter into bankruptcy enters its seventh day.

A North Carolina judge has bounced the governance dispute over Charlotte Douglas International Airport back to the Federal Aviation Administration.

The California Public Employees' Retirement System lost its appeal of San Bernardino's bankruptcy, and filed an amicus brief in a separate case about the city's former redevelopment successor agency.

Florida Attorney General Pam Bondi settled foreign currency transaction charges and securities lending issues with Bank of New York Mellon for $28 million.

Ahead of a $30 million deal, ratings analysts said Michigan continues to rebound from recession and appears well protected against fallout from the Chapter 9 bankruptcy of its largest city, Detroit.

Jefferson County, Ala., plans to sell $1.7 billion of refunding sewer warrants before it exits Chapter 9 bankruptcy, according to County Commission President David Carrington.

The Virginia Supreme Court issued a ruling Thursday that allows the Elizabeth River Tunnels project to move forward as a tolled facility.

Bankrupt Jefferson County, Ala., reached a deal with major creditors to accept bigger haircuts and allow a modified plan of finance for the county to emerge from Chapter 9 this year.

The Dauphin County, Pa. commissioners voted to approve $170 million in revenue bonds related to the parking lease deal in Harrisburg, Pa.'s debt-recovery plan.

Fitch Ratings knocked Detroit's Downtown Development Authority – planning a $650 million hockey arena and entertainment complex -- into junk-ratings territory.

A court decision awarding the equivalent of 20% of Atlantic City's annual revenues to a local casino is a credit negative for the city, Moody's Investors Service said.

The Securities and Exchange Commission’s chief administrative law judge has dismissed a commission order instituting cease and desist proceedings against two UBS Financial Services, Inc. of Puerto Rico executives for allegedly misleading mutual fund investors.

Detroit’s bankruptcy eligibility trial will continue into next week after five days of testimony in which Michigan Gov. Rick Snyder and Detroit emergency manager Kevyn Orr sparred with creditor attorneys.

In historic testimony in Detroit's bankruptcy case, Michigan Gov. Rick Snyder said the state did not offer any aid to the ailing city to avoid pension cuts.

Attorneys representing Victorville, Calif. and its officials argued in court that SEC fraud charges in connection with a 2008 bond offering should be dismissed.

A federal permit improperly allows the Alabama Department of Transportation to begin work on the $5.4 billion “Northern Beltline” project, according to a federal lawsuit.