Bankruptcy

The House Natural Resources Committee will “very soon” begin forming legislation designed to aid Puerto Rico following a hearing one of its panels held on Tuesday on the need for a federal oversight authority in the commonwealth, said committee chair Rob Bishop, R-Utah.

House Natural Resources Committee Chair Rob Bishop, R-Utah, said on Monday he believes the House can meet a March 31 deadline to have a responsible legislative package to help Puerto Rico as the commonwealth is negotiating with creditors on a new bond exchange proposal.

California city attorneys who also provide bond counsel services may not be paid based on a percentage of a city's bond issuances, according to a formal opinion from the office of California Attorney General Kamala Harris.

Sen. Elizabeth Warren, D-Mass., is trying to amend an energy bill pending before the Senate to include a provision that would halt Puerto Rico creditor litigation until April 1.

Moody’s Investors Service has placed Atlantic City’s junk-level Caa1 credit rating under review for a possible downgrade citing the chance at “bondholder impairment” from looming New Jersey legislation.

State and federal authorities advanced efforts Thursday to bring more fiscal help to Flint, Michigan as its copes with a water contamination crisis that market participants say will reach far and wide.

Boston Mayor Martin Walsh and casino mogul Steve Wynn struck a deal in which the city dropped its lawsuit to stop a casino in a neighboring community in exchange for $68 million in mitigation funds.

School and community college districts violate California law if they purposely incentivize municipal finance professionals to advocate for passage of a bond measure, said a formal opinion from Attorney General Kamala Harris.

The Chicago Public Schools' last-minute pricing delay puts more of an onus on the district to demonstrate its ability to access the bond market.

Hillview, Ky., and its largest creditor, Truck America, have entered settlement talks over a judgment as U.S. Bankruptcy Judge Alan C. Stout continues considering whether the city is eligible for bankruptcy.

Kevin Lavin, whose one year stint as Atlantic City emergency manager wrapped up on Jan. 21, has been hired for a new management role at a business advisory and expert services firm.

A lawsuit against the new basketball arena project in downtown Sacramento will end up costing the city about $27 million in extra debt service, according to city treasurer Russ Fehr.

Senate Democrats and Independents joined together on Wednesday to call for swift action to write and pass legislation that authorizes debt restructuring for Puerto Rico.

New Jersey’s top elected officials Tuesday announced a deal with Atlantic City Mayor Donald Guardian to allow increased state intervention to keep the struggling city out of bankruptcy.

Richard Ravitch, James Spiotto and Lois Scott are among the municipal leaders who've started an advocacy group to help local governments face what it describes as the "uncertain future" of public pension plans.

A King County, Wash. Superior Court judge has struck down a voter-approved ballot measure that would have lowered taxes unless the legislature adopted a new constitutional amendment giving more control of tax increases to voters.

Additional executive powers are being restored to Flint, Mich.'s mayor in a move backed by Gov. Rick Snyder to help the city deal with its water contamination crisis.

A court’s refusal to block the federal Clean Power Plan rule is a credit negative for big coal-fired generators, cities that issued bonds to finance units, and for coal-dependent states, Moody's Investors Service said.

Atlantic City, N.J. is moving closer to default and a possible bankruptcy after New Jersey Gov. Chris Christie’s veto of a financial rescue package, according to Moody’s Investors Service.

Atlantic City’s already junk-level general obligation debt rating was slashed four notches to CCC-minus from B by Standard & Poor’s, citing a “near-term liquidity crisis.”