Bankruptcy

Atlantic City's tax settlement with the Borgata Hotel should help the distressed city move forward to deal with its other fiscal challenges, analysts said.

A recent New Jersey Supreme Court decision rejecting a school funding freeze proposed by Gov. Chris Christie for 31 mostly low-income districts is a credit positive for the impacted localities, according to Moody’s Investors Service.

The Chicago Board of Education and a group of parents sued Gov. Bruce Rauner and the Illinois Board of Education, charging that the state’s funding system discriminates against its mostly minority student population.

A county judge heard opposing motions as a Scranton, Pa., taxpayer group looks to stop the distressed city from tripling its local services tax.

The first legal action challenging New Jersey’s takeover of Atlantic City finances will be decided at the local level after a federal judge sent the case back to Atlantic County Superior Court.

A county court is scheduled to hear a petition by a Scranton, Pa., taxpayer group that alleges the city’s tripling of its local services tax is illegal.

St. Louis voters will decide whether to raise taxes to fund a light-rail expansion and other projects and to cover the city's contribution for a new professional soccer stadium.

After a judge approved the final settlement in the 38 Studios fiasco, Rhode Island Gov. Gina Raimondo said she would ask a court to release grand jury documents.

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.