Bankruptcy

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.