Bankruptcy

Jefferson County, Ala., finalized an agreement with the IRS to protect the county’s tax-exempt sewer system warrants in return for a $4.5 million payment.

Hoteliers opposing subsidies for a Gaylord hotel and conference center near Denver International Airport saw their petition drive halted by Colorado's attorney general.

The University of Florida's Shands Healthcare has agreed to pay $26.2 million to settle allegations due to overpayments by Medicare and Medicaid.

Louisiana's coastal protection agency is officially opposed to a multi-billion dollar lawsuit brought by a levee district against oil companies.

U.S. Bankruptcy Judge Steven Rhodes Wednesday heard arguments from a bond insurer trying to halt Detroit's only pre-filing settlement, which would terminate interest-rate swaps hedging the city's pension certificates.

Stockton's city council selected a headhunter this week to help find the next city manager to replace Bob Deis when he retires in November.

Detroit Public Schools sold $92 million of one-year notes Tuesday with a 4.37% interest rate, a steep penalty compared to most municipal short-term debt but less than the district paid in recent years.

Insured municipal bonds are outperforming general obligation debt as investors place more value on guarantees amid falling bond prices and default concerns sparked by Detroit’s bankruptcy.

Of the 140 creditors challenging Detroit’s eligibility for bankruptcy, not one was a bondholder or bond insurer, who learned “an object lesson from Stockton,” according to bond attorneys.

Former Assistant U.S. Attorney Michael McCrum has been named special prosecutor to lead an investigation of Texas Gov. Rick Perry.

The Louisiana state agency responsible for coastal protection may ask for dismissal of a levee district lawsuit seeking billions of dollars as damages from oil companies.

A federal judge dismissed part of a suit by Providence, R.I., against actuary Buck Consultants alleging an accounting error that officials said cost the city $10.8 million.

Atlanta Mayor Kasim Reed said Morris Brown College rejected a plan to help the college exit bankruptcy and also help locate a new Atlanta Falcons stadium but the proposal is still in play.

The Minnesota Sports Facilities Authority last week hired Dorsey & Whitney and FTI Consulting to conduct a financial review of Minnesota Vikings owner Zygi Wilf and his real estate business after a New Jersey judge found a Wilf partnership guilty of fraud in a longstanding civil case.

Creditors opposed to Detroit's bankruptcy petition face a midnight deadline today to file their objections to the plan, while firms fighting the city's one and only settlement gear up for a Wednesday hearing.

A New Orleans levee district suing oil companies for billions of dollars in coastal damages offered to suspend the suit if the state proposes an alternative compensation plan.

Pennsylvania Attorney General Kathleen Kane plans to investigate incinerator bond financing deals that crippled capital city Harrisburg, her office confirmed.

The judge overseeing American Airlines' bankruptcy put confirmation of the carrier's restructuring plan on hold after the federal government moved to block its merger with US Airways Group.

A federal grand jury indicted former Ohio deputy treasurer Amer Ahmad, recently Chicago comptroller, on corruption charges of orchestrating a kickback scheme involving Ohio investment business.

Detroit's Chapter 9 filing may be "a game changer" that resolves controversial issues that have not been dealt with in prior cases, according to paper on muni defaults from the Bond Dealers of America.