Bankruptcy

A hearing is slated for Friday that could determine the fate of the planned $250 million expansion of the San Diego convention center, according to UT San Diego.

Detroit Mayor Dave Bing said Wednesday he would not fight the state's plan to appoint an emergency financial manager to take over the city, just an hour after the city council formally requested a hearing to appeal the appointment.

The SEC's whistleblower office is seeking additional details about a complaint that Scranton, Pa., misled in a bond document regarding the nature of a tax hike.

Some Alabama state legislators upset about the downsizing of Jefferson County, Ala.'s indigent care hospital have filed bills that would increase disclosure requirements and redirect indigent funds.

A judge last week agreed to allow a lawsuit to proceed that challenges Chicago's 99-year, $563 million lease of four downtown parking garages to a private consortium.

French bank Societe Generale sold its holdings in bankrupt Jefferson County, Ala.'s sewer warrants, and has asked to withdraw from two potentially precedent-setting appeals.

Ambac Assurance Corp. has agreed to discontinue its lawsuit brought against Credit Suisse in 2010 over misrepresentations on mortgage-backed securities insured in 2007.

The New York Supreme Court dismissed the lawsuit brought by various financial institutions against MBIA Inc. over its 2009 split into two companies.

Michigan Gov. Rick Snyder's historic decision Friday to take over the city of Detroit bodes well for the credit and for other local distressed governments, muni experts said, even as Snyder warned that all creditors might take have to take a loss.

Michigan Gov. Rick Snyder Friday announced that the long-suffering city of Detroit was in a state of financial emergency, paving the way for a full state takeover within two weeks.

U.S. District Court Judge John Jones III refused to reconsider the January dismissal of a lawsuit that challenged the state recovery plan for Harrisburg, Pa.

Providence, R.I.'s lawsuit accusing an actuary of miscalculating savings on pension benefits reflects greater exposure of advisors to liability, experts say.

San Diego-based Common Bond Capital Partners has acquired its first distressed land-secured municipal bond project in Florida.

Federal Judge Thomas Bennett Friday entered several major orders that chisel away portions of the $1.63 billion class-action suit filed in Jefferson County, Ala.'s Chapter 9 bankruptcy case.

Stockton, Calif.'s unhappy bond market creditors will get a trial starting March 25 to challenge the city's eligibility for Chapter 9 bankruptcy protection.

Providence, R.I., sued longtime actuary Buck Consultants, accusing it of miscalculating $700,000 of savings the city expected to realize through pension overhaul.

Stockton, Calif., in the midst of Chapter 9 bankruptcy proceedings, announced Tuesday that it had reached an agreement with Ambac.

Illinois Attorney General Lisa Madigan's office argued in state court that state constitutional protections against impairing retiree pensions don't extend to healthcare benefits.

Peabody Energy Corp., which led efforts to develop the mostly bond-financed, joint power agency-owned Prairie State Energy Campus, has received a subpoena from the Securities and Exchange Commission on the coal-fired plant's development.

Arkansas Supreme Court said property tax for schools cannot be diverted to economic development.