Bankruptcy

Jefferson County, Ala., commissioners Monday narrowly adopted new sewer rate increases that underpin resolution of the nation's second-largest municipal bankruptcy.

Detroit is expected to ask the judge overseeing its bankruptcy to safeguard a revenue source it wants to use to back debt for repairs to its notoriously broken down public lighting system.

Michigan needs to play a bigger role in Detroit's recovery, and help the city access the capital markets, experts told the Michigan Municipal League's annual meeting.

Detroit's attorneys renewed arguments about the need for speed in its Chapter 9 case Thursday, telling the judge the city needs to know soon if it will officially be afforded bankruptcy protection.

A Financial Industry Regulatory Authority arbitration panel has ruled against The Police and Fire Retirement System of the City of Detroit, which was seeking at least $39.9 million from Citigroup Global Markets, Morgan Stanley Dean Witter and other firms over risky investments.

The Commonwealth Court of Pennsylvania on Thursday approved Harrisburg's financial recovery plan. Receiver William Lynch's team wants to price bonds related to the deal while market conditions are still favorable.

As one of the few major museums owned by a municipality, the Detroit Institute of Arts is in the crossfire of the largest municipal bankruptcy, says director Graham Beal.

Harrisburg's outgoing mayor, Linda Thompson, implored her successor stay out of the bond market, even as Pennsylvania's capital begins to regain credibility in the capital markets.

Fitch Ratings renewed its warning about a potential broader market impact on how it rates unlimited tax GOs should Detroit prevail in bankruptcy in treating its unlimited tax bonds as unsecured.

Build America Mutual Assurance Co., the municipal-only financial guarantor seeking to establish itself in a reviving bond insurance market, this month wrapped $76 million of new general obligation bonds for Michigan issuers to help them overcome the taint of Detroit's bankruptcy.

A Cook County Circuit Court judge rejected Chicago's efforts to trim the size of a $58 million arbitration award won by the private operators of four downtown city and park district-owned parking garages.

A judge dismissed the lawsuit brought by trustees representing a group of investors seeking to block Richmond, Calif.'s eminent domain plan.

North Carolina has cleared the first of two legal challenges over a $215.8 million project to replace the aging Bonner Bridge in the state’s Outer Banks.

Harrisburg, Pa., receiver William Lynch and his team found politics and people more challenging than the daunting numbers when they developed a recovery plan to keep the city out of bankruptcy.

A judgment in a New Jersey civil lawsuit shouldn't impede the ability of the Minnesota Vikings' owners to finance their contribution to a football stadium, a public review found.

Warren Buffett's bond insurance firm Berkshire Hathaway Assurance Corp. made its first appearance in the Detroit bankruptcy as the city filed objections to creditors' requests.

Jefferson County, Ala.'s bankruptcy attorney said a report by Moody's showing that the county's bondholders will have lower recoveries than the county anticipates is "unfair."

A bankruptcy judge confirmed American Airlines’ reorganization plan but its exit from Chapter 11 depends on resolution of the antitrust lawsuit against its merger with US Airways Group.

Columbia, S.C., has promised to spend more than $750 million to settle federal charges related to contaminating local waters with untreated sewage.

Nine states prevailed in arbitration with the tobacco companies in a dispute over the 1998 master tobacco settlement, providing a boost for those with outstanding tobacco bonds.