Bankruptcy

The trustee firm in many recent troubled bond deals assembled by accused fraudster Christopher Brogdon is taking a harder line against the former employee it blames for its involvement in the mess.

Allegations of securities violations against Calvin Grigsby should be dismissed, an Illinois hearing officer recommended in a case that stemmed from his firm Grigsby & Associates advising a state agency to invest in a bank that later failed.

East Cleveland, Ohio's pursuit of Chapter 9 bankruptcy shouldn't hurt the city's school district, Moody's Investors Service says.

German Pellets Texas LLC and Texas Pellets Inc. filed petitions for Chapter 11 reorganization last month with $184.7 million of tax-exempt industrial development bonds outstanding.

The Texas Supreme Court upheld the constitutionality of the state’s school finance system, ending four years of litigation over unequal funding.

Puerto Rico will need help from Washington to maintain future market access and avoid a descent into "third-world" economic conditions, municipal bond fund managers said.

The House Natural Resources Committee on Wednesday postponed its scheduled release of a new bill to help Puerto Rico for what members hope will be only one day as discussions about acceptable revisions continued.

Michigan’s state treasurer has sided with the state Senate over the state House after the two houses developed different legislation to restructure Detroit Public Schools.

Miami’s “dramatically improving and diverse economy” was a driving force that led Moody's Investors Service to upgrade the city’s general obligation bonds to Aa3 from A1, despite pending SEC and pension suits.

The Securities and Exchange Commission is using Peter Cannava, a banker involved in an ill-fated private placement for a startup video game company, as a scapegoat and has no basis for charging him with defrauding investors, his lawyers claimed this week.