Bankruptcy

Detroit emergency manager Kevyn Orr has reportedly reached an agreement with counterparties on the city's interest-rate swaps that has the creditors taking a 25% haircut.

Austin Independent School District, Texas, can go ahead with plans to issue $490 million of GO bonds after judge says May ballot met legal requirements.

A Virginia circuit court is preparing to reconsider Fluvanna County's lawsuit against financial advisor Davenport & Co., after the state supreme court rejected the firm's motion for a rehearing of the state Supreme Court's decision to reverse a ruling that had favored it.

Jefferson County, Ala., has chosen Citi as senior underwriter for a $1.89 sewer warrant refinancing to take place in December after emerging from Chapter 9 bankruptcy.

Michigan's emergency loan board Monday approved a move by Pontiac emergency manager to suspend the city's retiree health care payments for up to two years.

Detroit said in a Monday morning court filing that it had reached an important settlement with a creditor that renders moot an escalating dispute with bond insurer Syncora Guarantee Inc. over casino revenues.

The largest creditors in San Bernardino, Calif.'s Chapter 9 bankruptcy are taking opposing positions on a decision that will determine the city's eligibility to be in bankruptcy.

Michigan Gov. Rick Snyder Monday tapped Detroit CFO Jack Martin to be the new emergency manager of the city's troubled school system.

Detroit bondholders may have a new worry after a judge ruled that Jefferson County, Ala., could have paid legal bills for its bankruptcy from cash that was going to pay warrant holders owed $3 billion.

A San Mateo County civil grand jury called a school district's capital appreciation bonds outstanding a "ticking time bomb."

Trade organizations allege that New York City's building department ignored plumbing and fire safety codes when it OK'd Forest City Ratner's high-rise next to the Barclays Center.

Teetering Harrisburg, Pa., will sell artifacts in a Guernsey's-run auction that ex-Mayor Stephen Reed had bought in a failed attempt to start a Wild West museum.

Bondholders of the nearly $6 billion of Detroit water and sewer debt hold one of the strongest hands for recovery as Detroit emergency manager Kevyn Orr tries to restructure the city's massive debt load.

The Stockton City Council approved placing a measure to increase the bankrupt city's sales tax on a November ballot.

Bankrupt Jefferson County, Ala., is seeking bids from underwriting firms to assist with its $1.89 billion sewer warrant refinancing obligation later this year.

San Bernardino filed papers on Friday requesting the judge issue a summary judgment in its favor on its eligibility to be in Chapter 9 bankruptcy ahead of an interim hearing on summary judgment planned for next Wednesday.

In the first formal push against Detroit emergency manager Kevyn Orr's restructuring plan, Ambac Assurance Corp. Monday called the plan harmful to the city's future and said it has hired an advisory firm.

A New York State appellate court's upholding of the Metropolitan Transportation Authority's payroll mobility tax is a credit positive for the transit agency, Moody's Investors Service said Monday.

Detroit sued Syncora Guarantee Inc. in state court Friday, accusing the bond insurer of blocking access to casino revenue and interfering with delicate negotiations over interest-rate swaps hedging pension certificates.

California State Treasurer Bill Lockyer on Wednesday released a report on the Foothill/Eastern Transportation Corridor Agency that found the toll agency could eventually default on its bond payment obligations without a proposed $2.21 billion restructuring of the agency's debt.