Bankruptcy

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.

The U.S. Department of Transportation gave All Aboard Florida another year to issue $1.75 billion of private activity bonds for its $3.5 billion passenger train project.

Lisa Donahue, the chief restructuring officer for the heavily indebted Puerto Rico Electric Power Authority, will be one of four panelists testifying at a House Natural Resources Committee panel hearing on Jan. 12 about the commonwealth’s energy problems.

A United States government argument in a criminal case being heard by the U.S. Supreme Court may backfire, leaving the U.S. responsible for paying Puerto Rico’s debt, a prominent Puerto Rico Senator said.

Two House Natural Resources Committee panels will hold hearings on Puerto Rico this month to discuss the possibility of energy reform and federal oversight for the ailing commonwealth, according to a committee spokesperson.

State Treasurer Seth Magaziner and revenue official Paul Dion will discuss tax credit programs before Rhode Island’s House Oversight Committee in its latest 38 Studios-related hearing.

Jefferson County, Ala., has appealed a judge’s ruling that struck down a state law to allow the county to issue debt; a group of challengers has also pledged to appeal.

Puerto Rico Gov. Alejandro García Padilla announced on Wednesday that the commonwealth will default on $37.3 million out of nearly $1 billion of debt payments due on Jan. 4, a “mild” default, according to one analyst, and one that could threaten the governor’s plans congressional help.