Bankruptcy

An investment banker hired as an expert witness in lawsuits challenging All Aboard Florida’s passenger train service said tax-exempt financing is critical to funding the $3.5 billion project, although the private company says that’s not true.

Puerto Rico Gov. Alejandro García Padilla this week bristled at a deadline to provide information to the U.S. Congress, while a candidate to succeed the governor sent an unsolicited response to the information request.

To address the lack of clarity of chapter 9 and to root it in municipal realities, attorney David Dubrow of Arent Fox LLP lists the top five critical changes that should be made to protect the capital markets.

Experts and Puerto Rican lawmakers are encouraging Congress and commonwealth officials to include fiscal responsibility laws in any legislative package designed to help the island.

Ferguson, Mo.’s already junk-level rating was placed on review for downgrade because of threats to the city's solvency after it rejected a negotiated consent decree with the U.S. Justice Department for the tactics of its police department.

Unless the United States Congress acts to modify Puerto Rico’s required debt payments, Puerto Rico won’t make the full May bond payment, Puerto Rico Gov. Alejandro García Padilla said.

Michigan Gov. Rick Snyder officially placed retired bankruptcy judge Steven Rhodes in charge of the proposed Detroit Public Schools restructuring, giving him the new title of “transition manager.”

The North Broward Hospital District in Florida saw Moody’s Investors Service drop its bond ratings three notches to Baa2 amid a severe decline in revenue and new probes into its operations.

New Jersey Gov. Chris Christie's veto of scheduled contributions to the state's pension fund won't be heard by the U.S. Supreme Court, providing short-term budget relief but leaving the state's pensions underfunded.

Falling tax assessments on Energy Future Holdings power plants could strain local budgets in six Texas counties as the company tries to emerge from the nation's largest corporate bankruptcy.

The retired judge who presided over the city of Detroit’s Chapter 9 bankruptcy case has been called upon to play a key role in the restructuring of Detroit Public Schools.

A new state legislative document showing that New Jersey can take control of Atlantic City finances under existing law highlights a plan that would prove more beneficial than a takeover bill lawmakers are weighing, Mayor Donald Guardian said.

Legislators are coalescing around a federal oversight authority for Puerto Rico that could take concerns over the commonwealth’s debt, pension, and economic crises and forge unique solutions using congressionally approved oversight and restructuring capabilities.

New Jersey can seize control of Atlantic's City finances under existing state law even absent passage of a takeover bill, according to a new memo.

Detroit City Mayor Mike Duggan warned that the city faces significant underfunding of its pension liabilities and hinted at a lawsuit against the team that led the city through its bankruptcy exit.

With most of its leadership under indictment in a bribery scandal, Crystal City Texas is working to clean a tainted water supply as its school district tries to avoid a threat from state regulators.

Squire Patton Boggs, a leading muni bond firm, is merging with the San Francisco-based international litigation firm of Carroll, Burdick & McDonough.

The spat between Illinois Gov. Bruce Rauner and the Chicago Public Schools could threaten the school district's authority to borrow, if the governor gets his way.

Atlantic City officials are not on board with a proposed state intervention plan pending in the New Jersey Legislature.

The Securities and Exchange Commission told Miami, Miami-Dade County, and the Marlins that no enforcement action will be recommended after a four-year-long inquiry into the financing of the team's $615.7 million stadium.