Bankruptcy

The Harris County-Houston Sports Authority said in a court filing Monday that MBIA Insurance Co. is not out "a single penny" for covering $1 billion of its stadium bonds.

All three major rating agencies are saying a recent court decision is a potential credit negative for Nassau County, N.Y.

A teacher's union has sued New York State government to overturn a cap on property tax increases enacted in 2011.

Citing the need to review millions of pieces of evidence, former Bank of America executive Phillip Dennis Murphy, who was indicted in July 2012 for scheming to rig bids for investment contracts, has waived his right to a speedy trial and requested a trial date of Feb. 3, 2014.

The San Bernardino City Council on Tuesday approved the contract for its new city manager, Allan Parker, who will guide the city through Chapter 9 bankruptcy.

If Michigan Gov. Rick Snyder appoints an emergency manager for Detroit, that person will tackle $15 billion of long-term debt liabilities and try to maneuver around a $440 million swap termination payment.

Florida's Santa Rosa Bay Bridge default makes it the largest issuer in default of its municipal bonds this year, according to Bank of America Merrill Lynch.

The judge overseeing Jefferson County, Ala.'s bankruptcy case this week began hearings on a $1.63 billion class-action claim seeking to invalidate the county's sewer warrants.

Treasurer Andy Dillon said Detroit can avoid bankruptcy, after a Michigan review team found that a financial emergency exists in the city paving the way for an emergency manager.

Stockton, Calif., has shot back at challenges to its eligibility for bankruptcy protection ahead of a hearing set for next week.

Bankrupt Jefferson County, Ala., reached a settlement with Depfa Bank to reduce the interest rate on $162.5 million of variable-rate school warrants.

Court ruling that the state school funding formula is unconstitutionally flawed could lead to stronger credit ratings for local school districts.

The former comptroller of a small Illinois city faces nearly 20 years in prison under the sentence handed down by a federal judge following her conviction for stealing more than $53 million from city coffers over two decades.

Pennsylvania's 20-year, $35 billion with Camelot Global Services to run the state's lottery system is unconstitutional, said Attorney General Kathleen Kane.

A San Bernardino County lawsuit seeking to recoup a portion of a $102 million settlement with a developer could force Upland, Calif. into bankruptcy, the city manager says.

A federal judge sentenced former Central Falls, R.I., mayor Charles Moreau to two years for corruption that occurred while the city was plummeting toward bankruptcy.

Harrisburg, Pa., has cleared a legal hurdle to the auction of its Wild West artifacts, which officials say could bring up $6 million to the teetering city.

Baltimore Mayor Stephanie Rawlings-Blake on Monday announced the first of a series of fiscal reforms designed to head off a financial nightmare that a recent projection suggested could be heading the city's way.

San Bernardino heads into a second status conference on its bankruptcy Tuesday missing two key players – interim city manager Andrea Travis-Miller and finance director Jason Simpson.

Moody's Investors Service said the recent ruling in favor of Assured Guaranty Municipal Corp. against Flagstar Bancorp Inc. is a credit positive for financial guarantors.