Bankruptcy

The municipal market will carefully watch the bankruptcy of Stockton, Calif., set to become the third largest debt issuer to file for Chapter 9 protection.

Harrisburg, Pa., receiver William Lynch chose the Lancaster County Solid Waste Management Authority to enter into exclusive negotiations to purchase the incinerator that has become the face of the city's debt crisis.

The U.S. Supreme Court Monday denied a request by Florida and Alabama to review the so-called tri-state water war case the two states are fighting against Georgia about water from the Lake Lanier reservoir.

In a court filing Sunday, Jefferson County, Ala., said that major creditors holding the county's sewer debt have been invited to "testify" before the County Commission at its next sewer rate hearing on July 24.

The Texas Charter School Association filed a lawsuit June 26 contending that the state formula for funding public education violates the Texas Constitution.

The Harrisburg, Pa., City Council has launched another legal attempt to fight receivership in Pennsylvania's distressed capital city.

The Stockton, Calif. City Council voted Tuesday night to file for bankruptcy as part of a plan to try to keep the city solvent after city officials said negotiations with creditors failed.

Members of East St. Louis' elected school board last week mounted a legal challenge to Illinois' decision to take over the troubled district and disband the local board, according to published reports.

Stockton's City Council will consider whether it will become the largest city ever to file for bankruptcy protection Tuesday night after negotiations with creditors ended on Monday.

While the Governmental Accounting Standards Board's new accounting standards announced Monday will improve financial reporting for public pension plans they also will put added pressure on cash-strapped state and local governments to reform their systems.

Attorneys representing various public-sector employees argue in Rhode Island Superior Court that the reversal of signed contracts was illegally unilateral.

Scranton Mayor Chris Doherty sued the city council, urging a Lackawanna County, Pa., court to force a recovery plan to keep his city from going broke.

California retirement system officials have further cut the benefits of two former top Bell employees now facing corruption charges.

Unions opposed to San Diego's recent overwhelming vote to reform its pension system won two legal victories this week.

Stockton, Calif. has proposed a plan to slash more than $10 million of debt payments to balance its budget while at the same time declaring bankruptcy, if negotiations with creditors fail by Monday's deadline.

The U.S. Supreme Court is scheduled Thursday to consider whether it will review the so-called water war case between Georgia, Florida and Alabama.

Tampa Bay Water's governing board Monday decided to move forward with an appeal in its suit challenging what it believes is a faulty reservoir design.

Detroit will pay yields ranging from 1.72% to 5.30% on $667 million of new-money and refunding sewer revenue bonds that the city's sewer department priced Wednesday.

Jefferson County residents complain that creditors holding $3.14 billion of defaulted sewer warrants helped push the county into Chapter 9 municipal bankruptcy.

A Franklin County appeals court last week dismissed a lawsuit that sought to block JobsOhio, a new private nonprofit firm that seeks to purchase Ohio’s liquor distribution system for $1.2 billion.