Bankruptcy

Industry, Calif.’s leaders say they have implemented 90% of the reforms needed to fix financial irregularities that cost the city one of its bond ratings.

St. Louis is hoping the courts will allow voters to decide this spring tax increase proposals to fund a light-rail expansion and other projects and to cover the city’s contribution for a new professional soccer stadium.

The state takeover of Atlantic City finances will be tested in court after a New Jersey judge temporarily blocked the state’s effort to cut 100 Atlantic City firefighter jobs.

Two Puerto Rico residents are firing back at UBS, saying the firm's challenge in federal court of an $18 million Financial Industry Regulatory Authority arbitration award over losses in Puerto Rico bonds is "a hopeless and baseless attempt at an unwarranted do over."

A federal court should dismiss two lawsuits challenging bond financing for the All Aboard Florida train project because the new administration will review future private-activity bond applications, court filings said.

Financial advisor Hilltop Securities Inc. – formerly First Southwest – has agreed to pay $16 million to settle the lawsuit Rhode Island Commerce Corp. brought in the wake of the failed 38 Studios deal.

The bonds of 16 affordable housing properties affiliated with Global Ministries Fellowship were downgraded by S&P Global Ratings, sending 14 more of the credits to junk.

A federal judge has denied former Miami budget director Michael Boudreaux's motion for a new trial after a jury found him guilty of securities fraud for misleading municipal bond investors, but he is still exploring options for appeal, his lawyer said.

Nearly four and a half years later, San Bernardino has received final approval on its plan to exit bankruptcy.

The Puerto Rico Oversight Board extended the stay on debt-related litigation to May 1 and the deadline for the governor to submit a 10-year fiscal plan to Feb. 28.

Former Harrisburg, Pa., Mayor Steve Reed received two years of supervised probation after pleading guilty to 20 counts of receiving stolen property.

Illinois Gov. Bruce Rauner attacked and vowed to fight Illinois Attorney General Lisa Madigan’s attempt to block state payroll amid the 18-month-old budget impasse.

The Securities and Exchange Commission and three defendants allegedly involved in a pay-to-play scheme to steer billions of dollars of business from a New York pension fund to certain firms have agreed to ask a federal court to stay the civil case resulting from the charges while two criminal cases moves forward.

Gainesville Hospital District in North Texas is reorganizing under Chapter 9 bankruptcy with $19.7 million of general obligation bonds insured by Ambac.

In oral arguments on Jefferson County, Ala.’s bankruptcy plan last month, the 11th Circuit Court of Appeals expressed concern that ratepayers challenging the plan did not request a stay before bonds were sold.

Illinois' latest stab at pension reform is unconstitutional and will face a court challenge if it becomes law, a union lawyer warned lawmakers Tuesday.

A Northern California healthcare district that closed its only hospital with $57 million of certificates of participation outstanding is sorting out its obligations in bankruptcy court.

After R.J. Reynolds sold four cigarette brands to ITG Brands, Florida Attorney General Pam Bondi sued the companies saying they have refused to comply with terms of the state’s 1997 tobacco settlement deal.

Stephen Reed, Harrisburg, Pa., mayor from 1982 to 2009, pleaded guilty to stealing city-purchased artifacts.

A federal court handed a victory to holders of Puerto Rico Employment Retirement System bonds Tuesday, one of bondholders’ first legal victories since Puerto Rico started defaulting about a year ago.