Bankruptcy

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.

A $1 billion economic development initiative in Buffalo, N.Y. is at the center of a corruption scheme that federal prosecutors say resulted in hundreds of millions of dollars being awarded for New York State contracts.

Miami City Manager Daniel Alfonso said the city has received a proposed settlement of the Securities and Exchange Commission's case, in which a jury found the city guilty of securities fraud last week.

The settlement by former baseball pitcher Curt Schilling and other 38 Studios executives with Rhode Island could push lone defendant First Southwest to the table.

For the sixth time this year, the 11th Circuit Court of Appeals has postponed oral arguments in Jefferson County, Ala.’s bankruptcy appeal.

A lawsuit filed against the state of Michigan on behalf of 14 local municipalities this month seeks to correct what they contend is a miscalculation in state aid that has shortchanged them for two decades.

Opa-locka faces potentially expensive legal challenges that could push the already troubled small south Florida city closer to bankruptcy.

San Bernardino's city attorney said the California city is on track to exit bankruptcy by the end of the year though two major creditors are trying to extend the process.