Bankruptcy

A majority of investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to give the struggling Ozarks air field more breathing room to bolster operations.

California Controller John Chiang issues scathing report on Bell, Calif. but city officials say they are close to clearing up their audits and a $39 million bond default involving Dexia.

Arkansas Gov. Mike Beebe will name a replacement soon for former Treasurer Martha Shoffner, who resigned after being arrested on a federal extortion charge.

Rhode Island's Pension Study Commission has summoned Coventry officials, who say they have no obligation to replenish an employee pension fund should it go broke.

A five-member Michigan review team Thursday said it found a fiscal emergency in the long-troubled Detroit suburb of Hamtramck, which could lead to an emergency manager.

Legal jousting began in Rhode Island between lawyers for the state and former Red Sox pitcher Curt Schilling's failed video-game company, 38 Studios.

The Securities and Exchange Commission has charged South Miami, Fla. with defrauding investors by negligently making misstatements and failing to disclose actions it took that jeopardized the tax-exempt status of $12 million of bonds.

An investor with a stake in $39 million of defaulted bonds issued for a failed artificial sweetener plant in Missouri dropped the underwriter's counsel from litigation and may be zeroing in on underwriter Morgan Keegan & Co.

The California Public Employees' Retirement System filed motions to remove the law firm Winston & Strawn LLP from the San Bernardino and Stockton Chapter 9 cases because they hired their outside bankruptcy attorneys.

Wells Fargo Bank N.A. has notified investors holding the defaulted bonds of three Georgia charter schools that they will lose about 22.7% of their outstanding principal.

The Harris County-Houston Sports Authority is fending off a legislative effort by the company that insures nearly $1 billion of its stadium bonds to restrict use of revenues to debt service.

Arkansas Treasurer Martha Shoffner faces federal extortion charges for accepting $36,000 in bribes in an alleged pay for play scheme.

More than a year into a battle between the San Diego County Water Authority and the Los Angeles-based Metropolitan Water District of Southern California over rate increases, the central issues appear to be far from resolved.

The settlement breakdown between Burlington, Vt., and Citi over a $33.5 million lawsuit regarding a city-owned telecom is a negative for the city, said Moody's.

Harrisburg, Pa., Mayor Linda Thompson must overcome bad poll numbers in her re-election bid as the capital city's woes provide a Democratic primary backdrop.

Arkansas State Treasurer Martha Shoffner was arrested Friday by the FBI on a charge of public corruption dealing with extortion.

The Stephens Hopkins Center of Providence accuses Moody's of bias in its reporting about the repayment of moral obligation bonds in the 38 Studios controversy.

Detroit's plan to restructure its debt "puts default squarely on the table" and signals bankruptcy is a real option, Moody's Investors Service says in a comment.

The Jefferson County, Ala., Commission is expected to approve another settlement with creditors over $105 million of defaulted 2001B variable-rate general obligation warrants.

The Detroit branch of the National Association for the Advancement of Colored People filed a lawsuit Monday saying Michigan's new emergency management law violates the voting rights of African Americans.