Bankruptcy

SAN FRANCISCO — Stockton, Calif., officials said Monday creditors have agreed to extend talks on how to keep the city out of Chapter 9 bankruptcy.

The Rhode Island Economic Development Corp. discussed the problems of Curt Schilling’s 38 Studios LLC at a Monday night meeting in Providence, but did nothing.

BRADENTON, Fla. — Tampa Bay Water is asking a federal district judge for a new trial after losing its first case to a jury on April 10 after a month-long proceeding.

The business woes of the online video game company former star baseball pitcher Curt Schilling has founded, which appears to be unraveling faster than the 2011 Red Sox, have set off a political, media and bond-industry firestorm.

Embattled 38 Studios LLC, the video-game company owned by Boston Red Sox pitcher Curt Schilling, made its past-due $1.125 million payment to Rhode Island on Friday, Gov, Lincoln Chafee announced.

38 Studios LLC, the embattled video-game company founded by former Boston Red Sox pitcher Curt Schilling, was on the verge of making its past-due $1.1 million payment to the Rhode Island Economic Development Corp., Gov. Lincoln Chafee's office said late Thursday afternoon.

In a letter to a small Colorado daily newspaper, the developer of a Sparks, Nev., shopping center in technical default on its bonds tried to explain financial issues surrounding the Nevada project while pitching Eagle, Colo., residents on a retail project he is planning there.

Even with their largest county in bankruptcy, Alabama state legislators refused again to provide fiscal relief to Jefferson County and ended their regular session at midnight Wednesday.

Curt Schilling once pitched with a bloody sock, endearing him to New England baseball fans. But his video game firm is in a bloody mess, leaving Rhode Island taxpayers and bondholders exposed.

While bond insurer Ambac Assurance Corp. has been paying policyholder claims for the last several years, its related segregated account branch has not been doing so. On Wednesday the Wisconsin Commissioner of Insurance applied to a Wisconsin court for the segregated account to make cash payments to policyholders for 25% of claims.

The case administrator in Jefferson County, Ala.’s municipal bankruptcy case last week recommended the appointment of an unsecured creditors committee.

Two New York Senate committee chairmen have raised the possibility of investigating bond insurer MBIA Inc.'s behavior when it applied for a transformation of the company during 2008 and 2009.

The U.S. Court of Appeals in Philadelphia has denied the attempt by the Harrisburg City Council to file for bankruptcy on behalf of Pennsylvania’s capital city.

False information provided to a regulating body considering the division of bond insurer MBIA Inc. into two parts should invalidate the split, according to the attorney for the banks suing MBIA in a hearing Tuesday.

Retired Air Force Major General William Lynch helped rebuild Iraq. But can he repair Harrisburg?

On the first day of a trial in a lawsuit brought by banks to undo bond insurer MBIA Inc.'s split into two companies, the judge made clear she wanted the proceedings to focus on legal rather than factual issues.

Pennsylvania Gov. Tom Corbett on Friday named retired Air Force Major General William Lynch as receiver for the state's distressed capital city of Harrisburg.

U.S. Justice Department antitrust prosecutors late Friday afternoon scored a clean sweep in the municipal bond bid-rigging trial in New York, as jurors in the fourth day of deliberation, and the 20th day of the trial, convicted Steven Goldberg, Peter Grimm and Dominick Carollo of wire fraud and conspiracy.

CHICAGO — Detroit Mayor Dave Bing Thursday tapped Jack Martin to be the city's new chief financial officer and oversee its urgent efforts to stabilize finances and avoid bankruptcy.

California’s Legislative Counsel says the Metropolitan Transportation Commission’s $93 million purchase of a building in San Francisco, using bridge toll money, violates state law.