Bankruptcy

Rochester, N.Y., will experience fiscal stress in the coming years, the office of New York Comptroller Thomas DiNapoli said in a recent report.

Jefferson County, Ala., expects to file a plan to adjust its debts in 90 days, said commission president David Carrington. A plan could help guide the county out of the country's biggest municipal bankruptcy.

Sentencing of David Rubin and his firm, CDR Financial Products Inc., for charges related to bid-rigging of municipal investment contracts, has been postponed by a federal judge until June 28.

Gov. Rick Snyder Thursday appointed Jones Day bankruptcy attorney Kevyn Orr as Detroit emergency financial manager. Orr warned creditors that he's willing to use bankruptcy.

The Supreme Court's 2010 Citizens United ruling should alleviate concerns by the Municipal Securities Rulemaking Board that additional regulation of bond ballot campaign contributions could violate free speech protections guaranteed by the First Amendment, according to the National Association of Independent Public Finance Advisors.

Stockton, Calif., which is battling with creditors over its attempt to enter Chapter 9 bankruptcy protection, received $1 million from the Federal Emergency Management Agency to buy two new fire engines.

San Bernardino, Calif., is the latest city to receive a letter from the state government demanding it hand over redevelopment funds but threatens to fight back in bankruptcy court.

Pennsylvania filed criminal charges against a former state senator and several former Turnpike officials with using pay-to-play schemes that include bond underwriter PNC Captial Markets.

Birmingham, Ala.'s $75 million general obligation sale will use a convertible capital appreciation bond structure; the city wants to avoid confusion with bankrupt Jefferson County.

Moody's Investors Service affirmed its B3 rating on bankrupt Jefferson County, Ala.'s $747 million of school warrants. The outlook remains negative.

The company that operates parking garages at Yankee Stadium and is staring at about $240 million of debt has hired bankruptcy counsel, according to a regulatory filing.

A San Diego Superior Court judge rendered a tentative ruling on Monday upholding a hotel tax that will back bonds for San Diego's $520 million plans to expand its convention center.

Detroit officials at an appeals hearing in Lansing Tuesday said Michigan should craft a stronger consent agreement to help stabilize the city instead of taking Detroit over by appointing an emergency financial manager.

A Rhode Island judge removed a major hurdle to pension overhaul in Providence by calling a deal with police and fire retirees "fair, adequate and reasonable."

Former Detroit Mayor Kwame Kilpatrick headed straight to jail Monday just hours after a jury found him guilty of 24 counts in a months-long federal corruption trial.

The state-appointed budget commission that oversees finances in East Providence, R.I., will conclude its work this month because the city's financial condition is better.

Democrat and former city community development director Joseph Caramone joined the open-seat race for mayor in distressed Scranton, Pa.

The Cincinnati City Council Wednesday narrowly approved a controversial plan to lease the city's parking system for an upfront payment to offset a budget shortfall - but a judge almost immediately issued an injunction to halt the deal.

A federal judge has postponed sentencing of two former CDR Financial Products Inc., staffers until after the bid-rigging trial against former Bank of America executive Phillip Dennis Murphy, which is slated to start Feb. 3, 2014.

City employees in insolvent San Bernardino, Calif. are receiving nearly $1 million in pay raises despite the city's shaky financial situation.