Bankruptcy

Kevyn Orr, who put Detroit into bankruptcy, said Chapter 9 is an option Chicago should have on the table as it steers its way through financial problems.

House Financial Services Committee members unanimously approved a bill on Thursday that would put an end to a current legal loophole that a lawmaker contends allowed broker-dealers to defraud Puerto Rico investors.

A former vice president at Bryn Mawr Trust Co. is asking several federal and state agencies to investigate the Pennsylvania bank for possible fraud.

The Federal Trade Commission plans to appeal a federal court judge’s refusal to block the merger of Illinois-based Advocate Health Care and NorthShore University Health System.

National Public Finance Guarantee sued Puerto Rico Wednesday to overturn the commonwealth's debt moratorium law.

New Jersey bonds could see spread tightening after a state Supreme Court decision upholding the 2011 suspension of cost of living adjustments to retiree pension benefits, but any boost will likely be short-lived, according to Municipal Market Analytics.

Buena Vista, Va., was sued by bond insurer ACA Financial Guarantee Corp., which says the city breached its forbearance agreement and stopped making “moral obligation” payments on bonds issued to construct a golf course.

Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Tuesday afternoon that the Senate will consider the House bill designed to help Puerto Rico before July 1.

The Government Finance Officers Association has issued an alert urging members to be ready for conversations with their counsel and quick turnarounds of settlements under the Securities and Exchange Commission's program to voluntarily self-report continuing disclosure violations.

Scranton, Pa., which received its first bond rating in five years — junk-level BB from S&P — intends to sell $40 million to fund a back-pay settlement with police and fire unions.

A Florida court has denied Indian River County’s quest to block a state-created conduit issuer from selling $1.75 billion of tax exempt bonds for All Aboard Florida’s planned private passenger rail project.

Atlantic City has hired McManimon Scotland & Baumann as bond counsel in an effort to avoid a state takeover.

The Supreme Court on Monday issued an opinion affirming that a local Puerto Rico debt restructuring law is unconstitutional, leaving congressional action on a House bill as the most viable option left for the struggling commonwealth to deal with its debt crisis.

The full Senate is expected to take up the Puerto Rico bill passed by the House and vote on it before the end of the month or in early July.

Atlantic City's junk-rated Municipal Utilities Authority could play a key role in deciding the distressed city's financial fate.

A House bill designed to help Puerto Rico will now move to the Senate after House members passed the bill 297 to 127 during a session that stretched into early Thursday evening.

In a decision on Thursday the U.S. Supreme Court ruled that Puerto Rico enjoys most types of sovereignty but not a type relevant to the criminal case at hand.

Michigan lawmakers finalized a controversial Detroit Public Schools restructuring package that is supposed to rescue the struggling system from insolvency.

The New Jersey Supreme Court upheld Gov. Chris Christie’s 2011 suspension of cost of living adjustments for retirees’ pension benefits in a ruling that keeps the state's pension funding position from getting even worse.

The full House is expected to vote today on a bill designed to help Puerto Rico after the House Rules Committee set the table for the bill's consideration during a lengthy hearing that stretched into Wednesday night.