Bankruptcy

Pennsylvania's Senate has delayed its hearings on Harrisburg incinerator bond financings, and seeks more detail from parties uncooperative toward a local audit.

The board of Detroit Public Schools last week approved several measures in a bid to regain control over the district last week after the suspension of Michigan’s emergency management law.

The state Supreme Court's invalidation of New York City's law expanding yellow cab service to all boroughs could create a $1.4 billion budget gap.

The Arizona Supreme Court said last week that a referendum on making permanent a temporary 1% state sales tax should go onto the November ballot.

A Florida law allowing local governments to declare a "financial urgency" can be an effective strategy for budget relief, says Fitch. Miami has used it several times.

Moody's Investors Service is considering across-the-board and targeted downgrades in California in the aftermath of the state's recent municipal bankruptcies.

Creditors of San Bernardino, California, have until Oct. 24 to decide whether they will try to have the city's bankruptcy petition thrown out, a judge said in the city's first day in court.

Defense lawyers for three ex-UBS AG municipal bond traders sought in cross-examination of a government witness to undermine prosecutors' claims that their clients broke the law.

Lloyds TSB sold its defaulted Jefferson County, Ala., sewer warrants, and is the second creditor to drop an appeal in the nation's largest municipal bankruptcy.

The Financial Industry Regulatory Authority has ordered four firms to pay more than $53,000 in fines and restitution to customers for violations of municipal securities fair-dealing, pricing and other rules.

A South Carolina judge has allowed the Georgia Ports Authority to intervene in a lawsuit challenging the deepening project in Savannah Harbor.

Attorney Michael Washo will run the troubled Parking Authority in Scranton, Pa., a judge has ruled after indenture trustee Wells Fargo sued.

JPMorgan wants California's Peralta Community College District to make good on a type of refinancing that may now be illegal, according to a complaint filed Monday.

A federal judge has denied Tampa Bay Water's motion for a new trial to seek repair costs for Florida’s largest reservoir. The agency will now press on with an appeal.

The Flint, Mich., City Council last week voted to file a lawsuit to prevent the new emergency financial manager from taking office, saying the city's financial position has significantly improved since the state took it over last December.

Piper Jaffray & Co., Foster Pepper PLLC and K&L Gates LLP may reduce fees to settle over legal claims tied to Wenatchee $42 million note default.

To prevent further siphoning of revenues from bankrupt Jefferson County's general fund, commissioners will decide whether to close the county's indigent-care hospital.

A federal judge is allowing a lawsuit against the $2.6 billion Ohio River Bridges Project to proceed. Judge John Heyburn ordered briefs filed by the end of February.

Stockton, Calif.'s bond insurers are contesting the city's bankruptcy filing, saying it is unfairly targeting bondholders while asking nothing from its largest unsecured creditor, the California Public Employees' Retirement System.

Ohio officials question the constitutionality of a plan to privatize the state's lucrative liquor system in an effort to advance a $1.5 billion liquor-profit backed bond sale that would finance the deal.