Bankruptcy

Saying she wants to "light a fire" under attorneys in the case, U.S. Bankruptcy Judge Meredith Jury scheduled a summary judgment hearing on San Bernardino, Calif.'s eligibility for bankruptcy.

Moody's Investors Service late Wednesday downgraded Detroit Public Schools, now in its fifth year of state oversight, and the Pontiac City School District, located outside Detroit, which defaulted on a May debt-service payment.

Jefferson County, Ala.'s sewer debt deal Tuesday may help it exit the country's largest municipal bankruptcy but it could leave several unresolved legal issues important to the municipal bond market.

Creditors are asking the 11th Circuit Court of Appeal in Atlanta whether a bankruptcy judge can remove a state-court appointed receiver. Jefferson County is appealing the judge's ruling on the use of sewer system revenues during bankruptcy.

Larry Langford, who orchestrated Jefferson County's failed sewer financings, refuted reports of his death but said he is quite sick and has been denied a request for early release from prison.

Jefferson County, Ala., approved a plan with JPMorgan, bond insurers and seven hedge funds holding $2.4 billion of sewer warrants that could help the county exit Chapter 9 bankruptcy.

Muni finance expert Matt Fabian of Municipal Market Advisors will speak before a Rhode Island House panel about the pros and cons of paying moral obligation bonds for 38 Studios.

Austin Independent School District filed a petition with a Travis County state court to validate the district's recent $489 million bond referendum.

Pittsburgh officials want Pennsylvania to remove the "distressed" tag and are tired of waiting for the Department of Community and Economic Development to act.

Three years after asking the state for permission to file bankruptcy, the troubled Detroit suburb of Hamtramck stepped closer to state takeover Monday when Gov. Rick Snyder declared it to be in a state of fiscal emergency.

Moody's Investors Service said a court ruling that allows California to cut its Medi-Cal program is a negative for the credit ratings of hospitals, and positive for the state's fiscal flexibility.

Moody's Investors Service has left its junk-bond ratings in place on the Harris County-Houston Sports Authority as the stadium builder's bond insurer appeals a lawsuit over coverage of more than $1 billion of debt.

Jefferson County, Ala., has a busy week ahead with major court hearings on the county's Chapter 9 exit plan and motions to dismiss a suit claiming the county's sewer swaps are invalid.

KidsPeace Children's Hospital of Schnecksville, Pa., looking to pare bond debt from $51.3 million to $24 million, filed a voluntary Chapter 11 bankruptcy petition.

The prospects for passage of comprehensive legislation to overhaul Illinois' faltering pension system before lawmakers adjourn Friday dimmed after the Illinois Senate overwhelmingly rejected a House-sponsored reform package estimated to save the state $187 billion in the coming decades.

It would be difficult but not impossible for Detroit or its creditors to lay claim to the Detroit Institute of Arts' prized collection, bankruptcy attorneys say.

Senate Majority Leader Randy Richardville Wednesday introduced a measure to protect the Detroit Institute of Art's prized art collection, days after the city's emergency manager warned the art is vulnerable to creditors.

A federal court in Rhode Island denied a request from three communities for a temporary restraining order against tolls on the Sakonnet River Bridge.

The Tuomey Healthcare System in South Carolina Tuesday notified investors that S&P downgraded its bonds to BB because of a federal court ruling that could render it insolvent.

Holders of Detroit's general obligation bonds are taking note of the specific pledges securing their paper and how the debt might be treated differently in bankruptcy.