Bankruptcy

Puerto Rico bondholders have reason to be optimistic about overturning the island's debt payment moratorium in court, based on rulings by the judge handling most of the litigation.

The Kentucky Court of Appeals ruled that the city of Fort Wright can proceed with its lawsuit alleging that the Kentucky Retirement Systems made millions in improper investments in alternative asset classes.

A judge has agreed to put Peter Cannava back into a Securities and Exchange Commission lawsuit that alleges the Wells Fargo banker aided and abetted the defrauding of investors in connection with a private placement by 38 Studios.

Holders of $113 million of defaulted bonds issued for a Branson, Missouri Airport will get an update on airport operations and an amended forbearance agreement on Oct. 13.

Three former Puerto Rican officials and another defendant were found guilty of various charges of government corruption Friday.

Wayne County, Michigan says it’s made sufficient gains in balancing its books and is ready to exit a state consent agreement.

Though Atlantic City has violated a term in a $73 million state bridge loan, New Jersey’s Local Finance Board won’t require the struggling city to immediately repay the debt.

A group of Detroit retirees may ask the full appellate court to consider its failed appeal aimed at restoring pension cuts imposed as part of Detroit’s Chapter 9 restructuring.

The city of Miami will consider paying $1 million, as recommended by City Attorney Victoria Mendez, to settle a Securities and Exchange Commission’s lawsuit.

Charlotte, N.C., will buck a recent trend and keep embattled Wells Fargo Securities on its sale of up to $150 million of general obligation bonds, saying the investment bank has served the city well.

A Kentucky Supreme Court ruling that Gov. Matt Bevin does not have authority to withhold university funds is a credit negative, Moody's Investors Service said, because it will be harder to manage difficult budgets without help from lawmakers.

Peter Cannava is fighting the Securities and Exchange Commission’s attempt to put him back into its lawsuit over 38 Studios’ private placement by trying to amend the complaint to include more details about his alleged aiding and abetting the defrauding of investors.

The judge assigned to Calvin Grigsby's federal discrimination lawsuit against the city of Shreveport, La., is considering whether to dismiss the complaint.

Sweet Briar College saw its revenue bonds upgraded four notches, although still within junk territory, because of efforts to keep the 114-year-old Virginia women's institution open.

A New Jersey appellate court rejected an effort to block a $1.15 billion bond sale to complete the long-stalled American Dream shopping and entertainment development at the Meadowlands.

A second edition of Chapman and Cutler LLP’s “Municipalities in Distress” was released Wednesday four years after book’s debut.

Puerto Rico’s retirement system plans to join an ongoing lawsuit filed against UBS over the alleged mishandling of pension obligation bond proceeds.

Atlantic City is now starring at a possible default by early October after New Jersey’s Local Finance Board rejected the distressed city’s request for a reprieve after violating a term of a $73 million bridge loan.

A school funding case adds another layer of financial uncertainty for the beleaguered state government.

Miami officials will hold a special meeting with attorneys to determine whether to accept a settlement with the Securities and Exchange Commission in light of a verdict finding the city guilty of securities fraud.