Bankruptcy

The Association of Financial Guaranty Insurers is urging House and Senate leaders to pursue federal oversight of Puerto Rico but avoid bankruptcy access for the commonwealth.

Atlantic City officials will discuss the possibility of filing for bankruptcy protection at an emergency city council meeting.

Financial Guaranty Insurance Co. filed a suit against Puerto Rico Gov. Alejandro García Padilla and members of his government, the latest challenge over their diversion of revenues from Puerto Rico authority bonds.

The Allentown, Pa., City Council voted no confidence against Mayor Ed Pawlowski, who says he won't resign as an FBI corruption probe hovers over City Hall.

A House committee panel hearing next week on the need for a federal financial oversight authority in Puerto Rico could pave the way for a legislative package to address the territory's problems by the end of March, according to congressional aides and lobbyists.

Atlantic City Mayor Donald Guardian is eyeing bankruptcy after Gov. Chris Christie rejected a financial rescue package.

Rep. Brad Montell, R-Shelbyville, wants the Bluegrass state to study municipal bankruptcy laws around the country, and determine if the state should institute an oversight program.

New Jersey Gov. Chris Christie allowed legislation to create an Atlantic City financial rescue package to lapse, leaving the struggling gambling hub at risk of running out of cash by April.

Atlantic City Emergency Manager Kevin Lavin stopped short of recommending bankruptcy in his second report on the financially strapped Jersey Shore gambling hub.

Michigan Gov. Rick Snyder is requesting a federal emergency declaration and supporting a shift of more executive powers back to Flint Mayor Karen Weaver as the city grapples with a water crisis that could cost more than $1 billion to fix.

Only Congress can take the necessary steps to fully resolve Puerto Rico's debt crisis, Treasury Secretary Jack Lew said in a letter to congressional leadership on Friday.

Three New Jersey Senators announced plans Tuesday to introduce legislation that would have the state assume management of Atlantic City’s troubled finances.

As BioNitrogen navigates Chapter 11 bankruptcy, Hendry County, Fla., has refused to extend the company’s $300 million private-activity bond allocation.

The Puerto Rico Electric Power Authority will run out of money in the first half of 2016 if it cannot get creditors to agree to a financial restructuring plan, PREPA chief restructuring officer Lisa Donahue said at a House panel hearing on Tuesday.

Former Rhode Island House finance committee chairman Steven Costantino is scheduled to testify before an oversight panel about his role in the passage of the job creation guaranty program that provided a $75 million loan to failed video game company 38 Studios.

A lawsuit filed late last week seeks to block construction Golden State Warriors event center and mixed-use development project in San Francisco.

Christopher Brogdon, facing Securities and Exchange Commission charges for defrauding investors in senior living facility financings, has been ordered by a federal court in New Jersey to create a plan to pay those investors.

Illinois’ not-for-profit hospitals are facing new uncertainty over their local tax exemptions and charity care obligations after an appellate court voided a 2012 law governing their community benefit requirements.

Assured Guaranty Ltd. and Ambac Financial Group Inc. filed a lawsuit challenging the constitutionality of Puerto Rico's revenue clawback strategy, fanning concern that a long, messy process lies ahead as the commonwealth seeks to restructure about $70 billion of public bond debt.

A group of Jefferson County, Ala., taxpayers have cross appealed a judge’s recent ruling in hopes of further blocking the county’s plan to issue refunding warrants.