Bankruptcy

The Municipal Securities Rulemaking Board’s rule changes to prevent municipal advisors from engaging in pay-to-play practices are constitutional and comply with federal statutes, contrary to the claims of three Republican groups, the MSRB told a federal appeals court on Monday

Philadelphia got the green light to proceed with a new tax on sugary drinks after a judge dismissed efforts by the beverage industry seeking to halt the policy.

Petersburg, Va., was removed from CreditWatch by S&P Global Ratings, which maintained its BB junk ratings and negative outlook despite the cash-strapped city's hiring of a turnaround firm.

The Oklahoma Turnpike Authority plans to price $480 million of toll revenue bonds in January after the state Supreme Court shielded the debt from future litigation.

Martin and Indian River counties have asked a federal judge to examine the new bond financing strategy employed by All Aboard Florida to determine the "full extent" of the proposal and its impact on their federal lawsuits.

Former Miami budget director Michael Boudreaux plans to ask a federal district court by Jan. 3 to vacate a jury’s verdict that he was guilty of securities fraud, according to his lawyer.

Dallas saw its Moody's Investors Service rating fall one notch to A1 as it grapples with a crisis in its public safety pension fund.

The Federal Bureau of Investigation is probing allegations that a Compton, Calif. deputy treasurer stole money from the city.

Debt-ridden Dowling College has filed for Chapter 11 bankruptcy with two of its Long Island properties now on the market in an effort to aide bondholders.

After more than four years, San Bernardino has a clear path to exit its Chapter 9 bankruptcy.

Federal civil rights investigation will delay Colorado’s proposed $1.7 billion P3 highway expansion project.

State and federal judges in Wisconsin approved final settlement agreements with Stifel and Royal Bank of Canada to conclude an eight-year effort by five school districts to recoup $200 million lost on a risky investment product.

The College of New Rochelle in New York's Westchester County is raising funds to keep its doors open in the face of mounting debt.

U.S. Bank N.A., the trustee for Oconee Regional Medical Center, notified bondholders Tuesday that the Georgia hospital defaulted on its Dec. 1 principal bond payment. It is the second default this year.

A bankruptcy judge will hear from last major holdout in the San Bernardino, Calif. bankruptcy case.

David Carrington, who was president of the commission that placed Jefferson County, Ala., into Chapter 9, said his experience presents an opportunity for him to consider running for governor.

The SEC, in a court filing on Tuesday, said former Miami budget director Michael Boudreaux's arguments against penalties the SEC wants to impose on him for securities fraud show a lack of responsibility and respect for the jury verdict that found him guilty.

A proposed new arena is closer to reality after another courtroom win on Tuesday.

All Aboard Florida moved a step closer to financing the first phase of its private passenger train project when the U.S. Department of Transportation approved AAF’s new application for $600 million of tax-exempt private activity bonds. PAB financing for the project’s second phase remains uncertain.

A request for state Supreme Court validation on $420 million of toll revenue bonds has sidelined the Oklahoma Turnpike Authority deal as rates rose in post-election investor uncertainty.