Bankruptcy

Glendale, Ariz. is trying to lower the subsidy it would pay next year to Greg Jamison, the would-be owner of a pro hockey team at city owned Jobing.com arena.

Former Harrisburg, Pa., mayor Stephen Reed blamed initially low cost estimates for incinerator-related debt that ballooned into a $340 million debt crisis.

A judge ruled in favor of Oakland in its pursuit of alleged overpayments to retirees in a long-closed police and fire pension fund.

Investigator Steven Goldfield of Public Resources Advisory Group told a Pennsylvania Senate committee frequent red flags were ignored while Harrisburg incinerator-related debt spiraled.

Gov. Rick Snyder Tuesday formally declared the Detroit suburb of Allen Park to be in a state of fiscal emergency after denying the city's appeal two weeks ago. The city's problems are tied largely to a $31 million 2009 bond issue floated for a now-failed film studio.

The 11th Circuit Court of Appeals has yet to rule on a number of pending motions in Jefferson County, Ala.'s Chapter 9 bankruptcy.

Highmark has sued West Penn Allegheny Health for calling off their $475 million merger, calling the action a contract breach and "a flight from reality."

The U.S. Court of Appeals for the Federal Circuit heard oral arguments Tuesday in the case of Corr V. Metropolitan Washington Airports Authority, a lawsuit that strikes at MWAA's primary mechanism of repaying more than $2 billion of bond debt.

Harrisburg, Pa., has enough cash through November and delaying payments to some vendors could help it make through the end of the year, a state official said.

Rhode Island's state-appointed receiver has scheduled two auctions this month for the assets of failed video-game company 38 Studios.

The Ohio Supreme Court Friday declined to rule on Gov. John Kasich's controversial, bond-financed plan to privatize the state's liquor distribution system, sending the case back to the lower courts.

Alabama's Birmingham-Jefferson Civic Center Authority has seen its bonds upgraded to investment grade after S&P determined that revenues are not affected by Jefferson County's bankruptcy.

Harrisburg City Council member Brad Koplinski introduced legislation to allow the sale of the city's Wild West artifacts to proceed.

A proposed restructuring of lease revenue warrants sold by Jefferson County, Ala., in 2006 would not reduce principal or interest payments to investors, according to insurer Ambac Assurance Corp.

Bankrupt Jefferson County, Ala., told general obligation warrants holders Wednesday that it plans to default on the warrants until they are restructured in the county's Chapter 9 case.

Great Platte River Road Archway Monument in Nebraska museum, showcasing America's pioneer history, defaulted this month on $20 million of capital appreciation bonds, the latest in a series of defaults on $60 million of debt issued in 1998 that the museum has never had enough money to service.

Missouri economic development officials failed to conduct sufficient due diligence on the bond-financed artificial sweetener plant abandoned last year by a Chinese company, according to a new state audit.

The Los Angeles City Council appears likely to approve on Friday the environmental report and development agreement for a proposed $1.2 billion professional football stadium in downtown L.A. despite recent reports that AEG, the developer, is on the auction block.

The San Francisco Community College District is struggling to remain solvent and accredited, but holders of its $370 million of debt are well insulated.

Coalition for the Advancement of Regional Transportation is challenging the $2.6 billion Ohio River Bridges Project and wants a federal judge to order Kentucky and Indiana to stop work.