Bankruptcy

Bankrupt Jefferson County, Ala., on April 1 continued to suspend payment on outstanding fixed-rate general obligation warrants, relying on the insurer for the payment.

A private foundation linked to the $3 billion bond-funded Cancer Prevention Research Institute of Texas may have improperly changed its name and procedures in the wake of several investigations of alleged insider deals, according to Texas Attorney General Greg Abbott.

A federal judge dismissed the most damaging claims in a civil suit against banks accused of manipulating the London Interbank Offered Rate, but experts said it would not impact the market and will likely be appealed.

As baseball season opened, the operator of parking garages at New York's Yankee Stadium fell into default, missing a $6.9 million bond interest payment.

A Federal bankruptcy judge ruled today that Stockton, Calif. is eligible for Chapter 9 protection, rejecting the objections of bond market creditors.

Detroit activists filed a federal lawsuit against the state's new emergency management law Thursday, the same day the new law took effect.

In the latest residential mortgage-backed securities lawsuit, Assured Guaranty Municipal Corp. is suing RBS Securities over a $1.15 billion loan securitization.

San Bernardino City Attorney James Penman filed a lawsuit against the state claiming that if the city's sales and property taxes are docked, the city will be forced to shut down.

If Stockton is granted the right to file for bankruptcy protection, the next big fight ahead may be with its whale of a creditor, the California Public Employees' Retirement System,

Altoona has received a $519,000 grant to support new technologies that will help the financially distressed city implement its financial recovery plan.

The trial over Stockton, Calif.'s eligibility to enter bankruptcy protection is expected to wrap up Wednesday, with bankruptcy Judge Christopher Klein saying he is likely to rule Monday.

Alabama Rep. John Rogers, D-Birmingham said he will sponsor legislation to re-institute an occupational tax for bankrupt Jefferson County.

The San Bernardino County, Calif. District Attorney office announced the arrest of former airport developer Scott Spencer on charges that he defrauded the San Bernardino International Airport Authority of more than $1 million.

Moody's Investors Service called an Illinois judge's dismissal of litigation challenging the state's retiree healthcare reforms a credit positive for the state.

Stockton and its bond market creditors postured for a fight Monday at the start of a Federal court trial over the city's ability to enter Chapter 9 bankruptcy protection.

A federal appeals court ruling struck a blow to a financing program for energy efficiency and water conservation projects on homes when it upheld a decision last week by the Federal Housing Finance Administration prohibiting participation by Fannie Mae and Freddie Mac.

A bankruptcy court hearing is slated next week on settlement agreement between American Airlines Inc. and holders of its $1.4 billion of New York City airport debt.

Pennsylvania Turnpike Commission Secretary-Treasurer J. William Lincoln resigned from the panel in the aftermath of a grand jury report over pay to play.

The Virginia attorney general's office has issued an opinion that a sweeping new transportation law passed by the legislature last month violates the state constitution.

Detroit's new emergency manager began the job early Monday morning, meeting with the mayor and city council members and reiterating his agenda of tackling the city's debt, employee benefits, and city services.