Bankruptcy

A federal appellate panel dealt a setback Monday to the proposed merger of two Illinois based systems -- Advocate Health Care and NorthShore University HealthSystem.

The Oklahoma Supreme Court’s approval of changes in the state’s public pension plan is a positive credit factor for the state, according to Moody’s Investors Service. The Sooner State still faces a possible downgrade of its Aa2 rating.

Two federal judges who helped navigate Detroit’s historic bankruptcy will join a Miller, Canfield, Paddock and Stone principal to launch a downtown Detroit office of Judicial Arbitration and Mediation Services.

Two decisions in recent days pave the way forward for lawsuits against the state of Michigan and its officials over Flint’s water contamination crisis.

An Atlantic City default may be imminent if New Jersey rejects the city's five-year rescue plan next week, according to Moody's Investors Service.

Indian River and Martin counties filed motions for summary judgments requesting a federal judge block the $1.75 billion private activity bond allocation for All Aboard Florida’s Brightline passenger train project.

Construction delays and related payment risks on an Indiana public-private partnership highway project prompted Fitch Ratings to drop bonds issued for the project three notches to B.

A federal court judge has approved Miami's $1 million settlement with the Securities and Exchange Commission over charges the city acted fraudulently in taking steps to hide its deteriorating financial condition from bondholders.

Atlantic City Mayor Donald Guardian said he is optimistic that the city's turnaround efforts will be accepted and a state takeover averted.

In a sign of the challenges the federal board overseeing Puerto Rico’s debt workout may face, the island’s power authority’s deal to restructure more than $8.3 billion remains mired in litigation.

The tax supporting a $38 million bond deal for a rural Alabama hospital faces a legal challenge, though supporters say a state constitutional amendment on the Nov. 8 ballot should cure the problem for Chilton County and other localities, including Jefferson County.

Atlantic City officials unveiled a five year financial rescue plan Monday night that they hope will be enough to prevent a state takeover.

The Puerto Rico Oversight Board urged the judge in four key Puerto Rico debt cases to continue a freeze on the litigation.

Princeton University’s settlement to end litigation claiming it should pay property taxes on certain Princeton, N.J. properties is a credit positive for both the school and the local government, according to Moody’s Investors Service.

Underwriters’ counsel should be more proactive in keeping up to date with regulators’ concerns and then communicating those to their underwriter clients, a dealer official said here.

Nassau County Executive Ed Mangano and Oyster Bay Town Supervisor John Venditto were arrested on federal corruption and bribery charges.

Wayne County, Michigan was released from state oversight but expensive challenges remain, said county executive Warren Evans .

The Los Angeles school board refused to renew three charters for a charter school system with outstanding bonds that has faced financial problems and questions about connections to Turkey’s coup.

The Puerto Rico Oversight Board is considering filing briefs in four Puerto Rico bond suits.

Miami agreed to pay $1 million to settle securities fraud charges after the city was found guilty by a local jury of playing a shell game to hide its deteriorating financial condition from bondholders.