Bankruptcy

The judge hearing all the debt lawsuits in Puerto Rico’s federal court ordered continued stays in four cases.

Highland Park, Michigan says it shouldn’t be on the hook to repay $30 million to the Great Lakes Water Authority, saying they stem from overcharges related in part to a bond sale and forward swap losses.

Former Miami budget director Michael Boudreaux has been ruined financially fighting securities fraud charges and cannot pay a $450,000 civil penalty sought by the Securities and Exchange Commission, his attorney argued in a court filing Monday.

The finance committee of New York's MTA approved Loeb & Loeb LLP as outside counsel relating to the Penn Station renovation project.

Jeffrey Chiesa, a former U.S. senator, New Jersey attorney general and aide to Gov. Chris Christie, will lead the state's takeover of Atlantic City’s finances.

The Securities and Exchange Commission is seeking a $450,000 civil penalty against former Miami budget director Michael Boudreaux, who refused to reach a settlement after a jury found him guilty of securities fraud.

After seven postponements in the appeal of Jefferson County, Ala's bankruptcy case, the county's attorney requested that the chief judge of the 11th Circuit Court of Appeals schedule oral arguments as soon as possible.

An operator of bond-financed charter schools in California has filed for Chapter 11 bankruptcy.

New Jersey's Local Finance Board approved a state takeover of Atlantic City's finances.

The Fresno County, Calif. district attorney is investigating allegations that officials at Parlier Unified School District may have engaged in fraud, misappropriation of funds or other illegal activities.

A federal judge has granted a 30-day extension for All Aboard Florida and the U.S. Department of Transportation to respond to lawsuits challenging a $1.75 billion private activity bond allocation to finance a private passenger train project.

A lawsuit that threatens to invalidate the sole security for bonds issued by the Chilton County Health Care Authority in Alabama prompted Fitch Ratings to place debt’s AA-minus rating on watch negative.

The judge hearing all the debt lawsuits in Puerto Rico’s federal court ruled for a continued stay in three cases, saying the delay in litigation won’t hurt the investors’ interests.

Atlantic City officials are gearing up to fight a possible state takeover after New Jersey rejected the city’s five-year fiscal recovery plan.

The developers of the All Aboard Florida intercity passenger train project unveiled a new financing strategy in court documents saying that it is designed to moot two pending federal lawsuits nearing conclusion in Washington, D.C.

New Jersey has rejected Atlantic City's proposed financial recovery plan, setting the stage for a possible state takeover and raising more doubts about the junk-rated city's ability to service its bond debt.

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.