Bankruptcy

Detroit's plan to treat all $11.4 billion of unsecured debt the same is aggressive and would set a precedent in the market, analysts said.

Detroit's decision to default on its unsecured debt could be an opportunity for the city's bond insurers to prove their importance in the market.

Detroit’s announcement Friday that it will default on some of its bonds, including a $39.7 million pension certificate payment due Friday, could have major repercussions for the municipal market, analysts and bond attorneys said.

A hearing is set for June 27 on Jefferson County, Ala.'s motion to delay sewer system-related litigation. The county is also asking for postponement of appeals before the 11th Circuit Court.

The University of Pittsburgh Medical Center accused Pittsburgh Mayor Luke Ravenstahl of suing it over its nonprofit status to cover a scandal in his administration, according to a court filing.

A day after Standard & Poor's downgraded Detroit four notches, with the city's emergency manager set to meet with creditors, Moody's lowered its rating on all the city's outstanding bonds, pushing water and sewer debt to speculative grade.

Stockton City Manager Bob Deis will retire Nov. 1 after three years on the job that included guiding the city into bankruptcy, officials announced Wednesday.

Stockton, Calif., officials said the city reached an agreement on health benefit claims with retirees in its bankruptcy case.

The Georgia Supreme Court unanimously ruled last week that use of school tax revenue to fund development projects, including the Atlanta BeltLine, is constitutional.

Moody's Investors Service says agreements with most investors in Jefferson County, Ala.'s defaulted sewer warrants would result in a 60% overall recovery rate, which is consistent with the agency's Ca rating.

A lawsuit filed in Cook County Circuit Court against the Illinois Department of Revenue claims changes made in 2012 to the state's charity care law that governs not-for-profit hospitals violates the state constitution.

Harrisburg's receiver warned that a summary judgment ruling for incinerator creditor Covanta could push Pennsylvania's capital city to file for bankruptcy.

Detroit emergency manager Kevyn Orr puts the odds of the city declaring bankruptcy at 50-50.

The federal judge overseeing the case against former JPMorgan bankers Charles LeCroy and Douglas MacFaddin denied the Security and Exchange Commission's request to set a trial date.

Testimony by former Treasurer Martha Shoffner is under review by lawmakers for possibly perjury following her indictment on 14 federal charges.

Detroit emergency manager Kevyn Orr will hold his first formal meeting with the city's creditors, including bondholders, June 14 at Detroit Metro Airport.

A federal judge in Rhode Island has agreed to let the state continue to implement electronic tolling equipment on the new Sakonnet River Bridge connecting Portsmouth and Tiverton.

Rhode Island could hurt itself "for decades" by not paying the $110 million moral obligation debt related to 38 Studios, municipal bond expert Matt Fabian told lawmakers.

Whether Rhode Island should pay $100 million of moral obligation debt related to the 38 Studios debacle triggered spirited discussion Thursday at the state capitol.

Ontario, Calif. officials filed a lawsuit to have their regional airport returned to local control following a three-year battle with Los Angeles officials.