Bankruptcy

Georgia is once again in the crosshairs of a water-rights dispute as neighboring Alabama and Florida filed appeals with the U.S. Supreme Court on Monday.

Standard & Poor’s last week affirmed its C rating on $2.3 billion of Jefferson County’s sewer system revenue warrants.

The Jefferson County Commission Tuesday voted to hire a director of capital structure and investments to manage the $4.2 billion of debt that was placed into bankruptcy in November.

A Rhode Island Superior Court judge’s preliminary injunction preventing the state’s capital, Providence, from moving retirees who are 65 and older off the city’s health insurance plan and into Medicare is a credit-negative, said Moody’s Investors Service.

Troubled Michigan school districts may find more affordable market access under legislation signed into law by Gov. Rick Snyder that insulates certain types of bonds from the effects of bankruptcy.

The state-appointed receiver for financially ailing Harrisburg wants to close on the sale or lease of the city's two main assets by the end of June — the incinerator that's ground zero in the debt crisis in Pennsylvania's capital city, and its revenue-producing parking garages.

Standard & Poor's slashed Hercules, Calif.'s revenue bonds five notches, partly as a result of bankruptcy statements by city officials.

Jefferson County, Ala., said it has not used sewer system revenues for unauthorized expenses as alleged by the trustee for the county's $3.14 billion of defaulted sewer warrants.

Harrisburg's receiver said that recovery for Pennsylvania's capital city starts with finding out how much cash upfront it can get for its assets.

BRADENTON, Fla. — The Bank of New York Mellon on Friday filed a complaint for declaratory judgment alleging that Jefferson County, Ala., has misused sewer system revenues that otherwise would go to pay debt service.

Milwaukee County Supervisor Johnny L. Thomas Jr. has suspended his campaign for Milwaukee city comptroller after criminal charges were filed against him for accepting a bribe during a sting operation in exchange for advancing a financial advisory contract.

Municipal bond insurer Assured Guaranty Municipal Corp. sued UBS Real Estate Securities Inc. Thursday.

CHICAGO — A Michigan film studio has defaulted on its Feb. 1 payment on $18 million of privately placed tax-exempt bonds, forcing the state pension plans, which back the debt, to make the payment.

Providence Mayor Angel Taveras warned that the Rhode Island capital will run out of money in June without a reduction in pension obligations and larger contributions from tax-exempt institutions such as Brown University.

State-appointed receiver David Unkovic’s long-awaited financial plan for the struggling city of Harrisburg, Pa., is due Monday.

BRADENTON, Fla. — Syncora Guarantee Inc. on Thursday joined a dozen creditors seeking to appeal various rulings by the federal judge in Alabama overseeing Jefferson County's bankruptcy case.

Ambac Assurance Corp. has filed a lawsuit against Hercules, Calif., after the city's redevelopment agency defaulted on a debt service payment.

The attorney for the Harrisburg, Pa., City Council said he might appeal the latest federal rejection of its Chapter 9 bankruptcy petition.

Houston Astros owner James Crane won part of his request for federal bankruptcy Judge Thomas Bennett to limit Jefferson County, Ala.’s access to his lawsuit against JPMorgan.

Providence may appeal a Rhode Island Superior Court ruling Monday that for now stops it from switching police and fire retirees to Medicare after they turn 65.