Bankruptcy

The Securities and Exchange Commission is arguing it can't fight a lawsuit challenging a revised rule to curb municipal securities pay-to-play activity because the fiscal 2016 appropriations act prohibits it from spending money on any rules governing political contributions.

Atlantic City will default unless reaches agreement with the New Jersey state government on a bridge loan, according to Moody's Investors Service.

Leon County, Fla., home of the state capital in Tallahassee, will offer a new countywide residential and commercial PACE programs after years of planning and legal setbacks.

A new arena for the National Basketball Association's Golden State Warriors remained on track after a San Francisco Superior Court upheld its environmental review this month, although it faces continued appeals and resistance.

Federal corruption charges against a former state treasurer did not motivate a probe of Pennsylvania's two public pension systems, said state Auditor Eugene DePasquale.

The NBA blamed a law passed by North Carolina seen as discriminatory toward the LGBTQ community for its decision to yank the 2017 All-Star Game out of Charlotte.

A California Supreme Court ruling removes one obstacle for Gov. Jerry Brown’s $15.7 billion plan to build two giant water tunnels in the Sacramento-San Joaquin Delta.

Assured Guaranty subsidiaries sued Puerto Rico over its diversion of toll revenues that had supported insured bonds.

A court ruling Thursday offered a mixed outcome for Chicago’s effort to phase out most retiree healthcare subsidies.

Biotech Amgen has agreed to pay $95 million to settle a class action filed on behalf of investors with Connecticut Retirement Plans and Trust Funds as lead plaintiff.

The Hawaii House and Senate overrode the governor's veto of a bill he said could lead to a downgrade of the state's bonds.

Six hedge and investment funds holding Puerto Rico general obligation bonds sued Puerto Rico leaders Wednesday, seeking the government to use its money to pay GO bonds.

The Federal Housing Administration said it will begin insuring mortgages on certain properties that include PACE assessments if the obligation is treated like a property tax and it does not have priority status over the FHA mortgage lien.

A federal appeals court ruling that allows Fort Worth, Texas, to reduce pension benefits is a positive credit factor for the city and others seeking to adjust to growing obligations, according to Moody's Investors Service.

A Michigan board has authorized key pieces of the $617 million restructuring of the Detroit Public Schools amid lingering market questions over the fate of the district's bonds.

Philadelphia City Controller Alan Butkovitz has recommended that the Pennsylvania Intergovernmental Cooperation Authority (PICA) accept the city's five-year budget plan while also warning against potential litigation from a new sugary drink tax.

Detroit announced plans to pay for higher contributions to its public safety pension fund by hiring fewer firefighters.

The National Federation of Municipal Analysts wants issuers to improve their disclosures about statutory liens and how they could affect general obligation bonds following a slew of recent municipal bankruptcies where this was a key issue.

S&P Global Ratings said it has lowered its long-term rating and underlying rating on the Puerto Rico Highway and Transportation Authority's subordinated transportation revenue bonds, series 1998, state infrastructure bank, to D (default) from CC, following a default on scheduled debt service due July 1, 2016.

A dispute over parking payments continues amid S&P Global Services' downgrade to junk bond status of bonds that funded a long-term parking lease.