Bankruptcy

FirstEnergy Corp. has reached a settlement with bond holders of pollution control notes issued by its bankrupt subsidiary FirstEnergy Solutions.

The bankruptcy process could take 18 to 36 months to sort out, one municipal analyst said.

Some of the legal precedents potentially being set in Puerto Rico erode the expectations and good order of the municipal bond marketplace that finances the activities of states and municipal instrumentalities nationwide.

Lombard's failure to honor its appropriation pledge cost bondholders dearly in a hotel project bankruptcy.

An electric cooperative’s cross claim could upend the South Carolina Public Service Authority’s ability to collect nuclear-related costs.

Lombard Public Facilities Corporation creditors will receive $142 million of new bonds in exchange for $190 million of outstanding debt.

Creditors have until May 29 to file a proof of claim, though most bondholders won't have to respond because the judge is allowing trustees to file a "master proof of claim."

The plan calls for up to $55 million of borrowing to fund 2015 state health and pension benefits.

The Iron County Hospital District in Pilot Knob, Missouri, filed for protection from its creditors Wednesday.

PREPA says a widespread shutdown of electricity on Wednesday is inevitable without a major cash infusion.