Bankruptcy

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.

Chicago will return to the bargaining table with its unions to take a second stab at reforms aimed at passing state constitutional muster, said Mayor Rahm Emanuel.

With Atlantic City inching closer to a government shutdown, multiple New Jersey Assembly members are calling for Gov. Chris Christie to compromise on a state takeover bill and use tools at his disposal to help the gambling hub avoid default.

Hillview, Ky. and creditor Truck America say they have reached a settlement over a $15 million judgment that will enable the city to dismiss its Chapter 9 bankruptcy case.

San Bernardino, Calif., reached a settlement agreement that gives bondholders a major haircut that is still substantially better for them than the city originally proposed in its Chapter 9 bankruptcy.

The official discussion draft bill released on Tuesday to help Puerto Rico is drawing criticism from nearly all sides.

The impact a Chapter 9 bankruptcy would have on Chicago Public Schools and its investors is cloudy, market participants say.

Puerto Rico plans to appeal a federal court decision that will cut government revenue by overturning a imported goods tax increase imposed on Wal-Mart and other retailers.