Bankruptcy

Atlanta Public Schools is reviewing its options after the Georgia Supreme Court prohibited school districts from deducting pension costs out of charter school payments.

The Federal Aviation Administration says a North Carolina court should decide who will operate Charlotte Douglas International Airport.

Florida filed a lawsuit Tuesday seeking an injunction from the U.S. Supreme Court to stop Georgia's "unchecked and growing consumption of water," state officials said.

Dixon, Ill. will collect $40 million under a settlement that ends a lawsuit against the town’s auditors and bank who were accused of failing to uncover the theft of $53 million by the city former comptroller.

As promised, Fitch Ratings Monday dropped Detroit to D from C a day ahead of the city's expected default on its general obligation bond payments.

Conference speakers discounted the idea that the factors that drove several cities across the country into Chapter 9 bankruptcy are an aberration.

The bankrupt city of Stockton, Calif. said it would continue making CalPERS payments in a draft of its proposed plan of adjustment, which the city council will take up on Thursday.

A Georgia Supreme Court ruling that Atlanta's charter schools have no legal obligation to share in the Atlanta Independent School System's pension costs is a credit negative for school districts statewide, Moody's Investors Service said Monday.

Bankruptcy Judge Steven Rhodes, who oversees Detroit’s bankruptcy case, will hear arguments over the legality of the state’s emergency management law as well as other issues Wednesday.

Detroit emergency manager Kevyn Orr said last week he wants to freeze the city's two pension funds by the end of the year and shift employees into a 401(k)-style plan.

Mississippi Insurance Commissioner Mike Chaney has filed a federal lawsuit in an attempt to stop what he called "draconian" federal flood insurance rate increases.

For the first time in four years, Miami has a budget without declaring a fiscal emergency but the city faces legal hurdles, including a federal lawsuit filed by the SEC.

White House officials announced they are freeing up $300 million of federal funds for Detroit to tell the rest of the country the Obama administration believes in the city's future.

The disclosure that Harrisburg, Pa., must repay bond insurer Ambac about $30 million of additional interest "more than confirms the need" for recovery-plan scrutiny, city Controller Dan Miller said.

A Cook County, Ill. Circuit Court judge sided with lawmakers Thursday in ruling that Gov. Pat Quinn violated the state constitution when he stripped legislative pay from the fiscal 2014 budget in an attempt to pressure them to act on pension reforms.

Oklahoma's state lease revenue bond program for higher education projects will proceed after validation by Oklahoma Supreme Court.

Moody's Investors Service revised the general obligation rating of Providence, R.I., to stable from negative, citing the city's structural balance and a pension overhaul agreement.

St. Augustine, Fla.'s Glenmoor continuing care retirement community in World Golf Village filed for bankruptcy owing municipal bondholders more than $57.1 million.

Detroit will default on its October 1 general obligation bond payments, making it one of the largest cities to default on such a payment since the Great Depression.

CHICAGO — A key bankruptcy hearing on Detroit’s proposed settlement with interest-rate swap counterparties set for this week was delayed Monday to allow negotiations with bond insurers and other creditors to continue.