Bankruptcy

Texas Gov. Rick Perry's veto of funding for the unit that prosecutes state corruption will not derail an investigation of a case that could involve the governor's office, the lead investigator said.

Jefferson County, Ala., has negotiated another agreement to settle payment on $138 million of defaulted sewer debt held by liquidity banks.

Texas District Judge John Dietz has set a Jan. 6 trial date for reopening the lawsuit challenging the state's school finance system.

The 11th Circuit Court of Appeals has postponed oral arguments on several issues relating to Jefferson County, Ala.'s bankruptcy case until Jan. 15.

Detroit emergency manager Kevyn Orr ordered an inspection of all the city employee benefit programs for possible corruption or mismanagement.

The California Public Employees' Retirement System was successful in its efforts to have Winston & Strawn, the law firm representing National Public Finance Guarantee Corp. disqualified from San Bernardino's bankruptcy case, according to court documents.

Rhode Island's top House Republican Brian Newberry argued in a letter to colleagues that the state should not pay back the 38 Studios bonds, despite Moody's threat of a GO downgrade.

The Internal Revenue Service's adverse ruling about the Village Center Community Development District will not impact other Village CDD bonds that Fitch rates.

Detroit's controversial debt restructuring proposal illustrates the need for clarity in a shifting municipal market, the director of municipal research at Breckinridge Capital Advisors said Wednesday.

Jefferson County, Ala.'s bankruptcy judge is being asked to reconsider postponing a case by sewer system ratepayers who say they will be unfairly impacted by a deal with major creditors.

New York Comptroller Thomas DiNapoli released a list of 24 fiscally stressed counties, cities and towns in the state Tuesday.

One day after Moody's threatened to downgrade Rhode Island, a House finance panel approved an $8.2 billion budget that includes $2.5 million for 38 Studios bonds.

A threat of a GO downgrade from Moody's shadowed Rhode Island's debate over the payment of moral obligation debt related to the failed 38 Studios.

Detroit emergency manager Kevyn Orr knows the muni market is rattled that the city would cut GO debt in a restructuring, but says investors had plenty of warning signs.

The Court of Appeals in Kansas City will hear oral arguments next month as several Kansas City, Mo., business owners try to keep alive their lawsuit challenging the legality of the funding mechanism for the city's downtown streetcar line.

The Michigan Court of Appeals Friday blocked an Ingham County judge's order that an aide to Gov. Rick Snyder turn over the names of all candidates for the Detroit emergency manager position.

Fitch Ratings downgraded to D from C the rating on $1.5 billion of pension obligation certificates of participation issued by Detroit in 2005 and 2006. The downgrade comes after Detroit missed a $39.7 million pay due on the COPs last Friday.

Michigan attorney general Bill Schuette issued a formal opinion arguing that the Detroit Institute of Art's prized art collection is off limits to creditors or Detroit officials struggling to cover the city's debt because it is held in a charitable trust.

Moody's late Monday lowered 38 Studios bonds to Baa1 from A2 and placed Rhode Island's Aa2 general obligation rating under review for downgrade.

The South Carolina Supreme Court has upheld the governance of the state's Transportation Infrastructure Bank.