Bankruptcy

UMB Bank N.A., the bond trustee for Texas Pellets, accelerated the outstanding debt on $186.5 million of bonds due to a default at the company owned by German Pellets, which filed for insolvency in February.

The House Natural Resources Committee is expected to release a revised version of its Puerto Rico bill on Monday, including a modification designed to avoid a constitutional challenge if the legislation is enacted, sources said.

New Jersey's apparent willingness to let Atlantic City default may hurt the credit of other municipalities because it calls into question the state's future willingness to support distressed local governments, according to Moody's Investors Service.

With Atlantic City inching closer to insolvency, the gambling hub took another hit Tuesday with a judge ruling that the Borgata Casino Hotel & Spa can seek refunds for its 2011 through 2014 property tax bills.

Wayne County, Mich. closed out fiscal 2015 with a $5.7 million surplus, reversing a prior trend of deficits that led to state oversight, according to its audited financial reports.

Most municipal bond analysts believe Chapter 9 bankruptcy is taboo for municipalities and should be avoided, according to an analyst survey by PNC Capital Markets LLC.

A federal judge approved a $20 billion settlement with BP to resolve litigation brought by five Gulf coast states over the BP Deepwater Horizon oil spill.

The time may be ripe to rethink Michigan’s emergency management law after the Flint and Detroit Public Schools crises exposed flaws that critics say highlight how the law can fail citizens and ultimately hurt the state’s credit.

New Jersey has filed a lawsuit against Atlantic City seeking to recover more than $30 million the municipality owes its school district, Gov. Chris Christie announced Monday.

Kroll Bond Rating Agency downgraded Chicago’s general obligation bond rating one notch to BBB-plus in response to the Illinois Supreme Court’s decision tossing its 2014 overhaul of two of its four pension funds.

San Bernardino’s bankruptcy settlement agreement with pension bondholders is a credit negative, according to Moody’s Investors Service.

A group of investors sued the Government Development Bank for Puerto Rico Monday to protect their interests after the governor said the bank can't make its $423 million debt payment due May 1.

Atlantic City’s credit crating was slashed two notches to Caa3 by Moody’s Investors Service Monday as default concerns persist over the gambling hub.

Kentucky Attorney General Andy Beshear said Friday he will file suit if Gov. Matt Bevin fails to rescind immediate budget cuts the governor imposed at state colleges and universities.

The Chicago Board of Education is not subject to rules that allow the State Board of Education to curb the borrowing powers of financially distressed districts, Illinois Attorney General Lisa Madigan said in a special opinion.

Legal and political processes must lead to pension fixes in Chicago, California, and around the country, said leaders of an advocacy group dedicated to public sector pension reform.

The Supreme Court’s refusal to take up a case on the Securities and Exchange Commission’s use of administrative proceedings to impose penalties in enforcement cases prompted a law firm to recommend those subject to administrative proceedings to challenge their constitutionality.

With a deadline bearing on them, Kansas legislators approved a court-mandated revision of the school funding formula designed to keep schools open in the next fiscal year beginning July 1.

Missouri Attorney General Chris Koster is appealing a state court ruling that blocks a portion of a 2015 law aimed at reining in local governments’ reliance on municipal court fines to fund operations.

Draft legislation created by a House committee to help Puerto Rico has a good chance of moving forward with a lot of changes, but one major hurdle is its proposed temporary moratorium on litigation over Puerto Rico debt, sources said on Wednesday.