Bankruptcy

Contra Costa County’s pension system is suing the county over wage and benefits cuts for the system’s managers.

Harrisburg's City Council is appealing a federal judge's rejection of an earlier appeal looking to overturn the nullification of its bankruptcy filing.

Radian Asset Assurance Inc. accelerated payment of $4.9 million of bonds owed by Lambuth University, according to a market notice filed Tuesday by Bank of New York Mellon, the trustee.

The bankruptcy filing by Jefferson County could ultimately hinge on a ruling by the Alabama Supreme Court.

The trustee for $39 million of bonds sold by Moberly, Mo., to help finance an artificial sweetener factory has joined with other creditors to pursue an involuntary Chapter 7 bankruptcy filing against the Chinese company that abandoned the project and defaulted on debt payments.

Thirty-four congressmen urged Securities and Exchange Commission chairman Mary Schapiro to exempt broker-dealers and other regulated entities from its proposed municipal advisor definition, warning in a letter Monday that the failure to do so would impose unnecessary regulation and harm issuers by reducing competition.

Former Maine Turnpike Authority executive director Paul Violette has settled a civil lawsuit over allegations that he used agency funds for personal benefit, agreeing along with two surety bonding providers to pay back damages totaling $430,000.

U.S. Bank NA notified the market that it was sued by Fiddler's Creek Community Development District 2 in South Florida.

A ruling that Colorado's school funding formula violates the state constitution is drawing scrutiny in several states that face similar legal challenges.

The Santa Rosa Bay Bridge Authority's new board learned Wednesday night that its defaulted bonds, sold to build the Garcon Point Bridge in north Florida, may be repaid without losses to investors.

OppenheimerFunds has filed a lawsuit against ACA Financial Guaranty Corp. for failure to pay on defaulted bonds it insured.

Federal Judge Thomas Bennett, who is overseeing Jefferson County’s bankruptcy case, said Monday that he may not make a decision about whether the receiver will remain in charge of the county’s sewer system until after Dec. 23.

Jefferson County will be without a finance director after Friday.

A federal judge late Tuesday afternoon denied an appeal by the Harrisburg, Pa., City Council of a ruling that invalidated its bankruptcy filing.

The Harrisburg City Council will appeal a federal judge's ruling that invalidated the bankruptcy filing of Pennsylvania's capital city, according to its attorney.

A federal court in New Jersey has approved a $46 million settlement between Wachovia Bank NA, now Wells Fargo Bank NA, and the Securities and Exchange Commission over bid-rigging of municipal-bond related contracts as well as the amounts of restitution that are to go to each of the almost 60 state and local issuers that were defrauded.

Jefferson County is not eligible to file for bankruptcy because it has no debt outstanding that qualifies under the Alabama law that authorizes municipalities to file for Chapter 9, creditors argued in court filings last week.

U.S. Bank is clawing back debt-service payments it erroneously paid investors after a public arena in eastern Washington defaulted.

With trading active on much of bankrupt American Airlines' $3.2 billion of special facilities revenue bonds, some market participants are sounding a cautionary tone in assessing their value, as bargain hunters eye the airline's discounted bonds secured by collateral.

The Securities and Exchange Commission said late Thursday that it is a "statutory party in interest" in Jefferson County, Ala.'s bankruptcy case and wants to receive all notices and documents filed with the court.