Bankruptcy

MBIA Inc. has had strokes of luck lately, with the most recent positive developments coming from lawsuits filed against the company.

Rhode Island's retirement system is essentially "an implied contract" between the state and its employees, a judge said Tuesday in a ruling that favored the Ocean State's pension workers.

SAN FRANCISCO - California lawmakers passed a slew of bills last week that could have an impact on public finance if Gov. Jerry Brown signs them.

Trustees of San Antonio’s Harlandale Independent School District voted last week to waive attorney-client privilege so its law firm can cooperate with the Bexar County district attorney in a probe into a school bond program.

LOS ANGELES - California legislators approved a special audit of corruption-plagued Vernon at the request of Sen. Kevin de León.

CHICAGO - A federal appellate panel in Chicago last week delivered a mixed opinion in a dispute over whether a Wisconsin tribe is on the hook for repayment of $47 million of debt, upholding the district court's voiding of the bond indenture while overturning its refusal to consider other documents in an argument over the tribe's sovereign immunity.

CHICAGO - Michael Stampfler, the emergency manager of Pontiac, Mich., resigned Friday after 14 months, calling the job a "sad and almost hopeless endeavor" and warning that bankruptcy or merger are the only real solutions for the troubled Detroit suburb.

BRADENTON, Fla. - Just days before a critical decision on how to deal with $3.14 billion of defaulted sewer debt, Jefferson County, Ala., commissioners plan to hire the county's first manager.

A bankruptcy judge has rejected the Chapter 9 bankruptcy filing of sparsely populated Boise County.

After much watering down, a California bill to make it harder for local governments to seek bankruptcy protection cleared committee on Wednesday.

A subcommittee of the New Mexico House Rules Committee has been named to consider impeachment of Public Regulation Commissioner Jerome Block Jr. after the current 30-day special session.

SAN FRANCISCO - Montebello, Calif., has won a legal victory that will allow it to sell notes to buffer its troubled finances.

Pennsylvania's beleaguered capital received some positive news when the Harrisburg Parking Authority agreed to help the struggling city make general obligation payments due next week with a loan package.

Former Jefferson County commissioner Larry Langford last week requested that the U.S. 11th Circuit Court of Appeals rehear the appeal of his pay-to-play conviction.

CHICAGO - Some struggling development districts around Omaha have turned to Chapter 9 bankruptcy as a way to restructure debt as they wait out an ailing housing market.

Columbus-based law firm Peck, Shaffer & Williams LLP has hired a new attorney for its Columbus office.

LOS ANGELES - Downey Regional Medical Center, a not-for-profit hospital located in greater Los Angeles, will emerge from bankruptcy in mid-November, allowing it to close on a planned bond refunding if a bankruptcy judge approves its exit plan.

LOS ANGELES - Arne Croce, the recently appointed interim chief administrative officer of the beleaguered city of Bell, a Los Angeles-area working class community of 50,000 residents, has his work cut out for him.

HARRISBURG, Pa. - The City Council's latest rejection of a state-sanctioned financial workout has left Harrisburg scrambling to meet $3.3 million in general obligation bond payments due in two weeks and two more payrolls this month.

BRADENTON, Fla. - A federal bankruptcy judge in Tampa on Monday issued a final ruling in a developer's Chapter 11 filing that could have a chilling effect on owners of Florida community development district bonds, observers said.