Bankruptcy

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.

Ambac Assurance Corp. sued the Puerto Rico Highways and Transportation Authority to prevent what the insurer called improper siphoning of money.

Ramapo, N.Y. was too highly rated by Moody’s Investors Service and remains so after recent federal charges against town officials, according to a report from Gurtin Fixed Income Management.

Richland County, S.C., has set aside funds to pay off a $50 million bond anticipation note amid a probe into what state officials claim are improper expenditures of revenue of a local transportation sales tax.

Detroit Public Schools is moving perilously closer to a possible default or Chapter 9 filing, Moody's Investors Service said in a commentary.

The junk-rated Chicago Public Schools doesn't meet any of five state criteria to warrant further state intervention, the Illinois State Board of Education has found.

With the House Natural Resources Committee planning to release a new Puerto Rico bill on Wednesday and vote on it a week later, Treasury Secretary Jack Lew traveled to the commonwealth to hold meetings to drum up support for a legislative solution.

East Cleveland, Ohio says it is insolvent and bankruptcy is its best option to preserve essential public services in the city of 18,000, which has no bond debt.

A Chicago-based investment advisor faces jail time after pocketing more than $4 million from the sale of phony Chicago-backed securities that she described as "Chicago Anticipatory Notes."

Florida-based GrayRobinson PA has teamed up with Capitol Insight, an influential lobbying group that will complement its government relations and lobbying practice, the firm said Wednesday.

New Jersey Gov. Chris Christie said he would rather Atlantic City file for bankruptcy than send more money to the gambling hub, and will let the city file if lawmakers don’t approve the rescue bill he supports.

Municipal industry experts on Thursday urged analysts to continue focusing on how the presence of statutory liens can change the treatment of debt in bankruptcy proceedings and ratings analyses.

Two rating agencies flagged North Carolina’s implementation of House Bill 2 in upcoming bond offerings amid a national controversy over the law seen by some as discriminatory towards the LGBT community.

Donald Trump, the Republican presidential nominee, said Puerto Rico has to “cut its debt way down” in order to survive.