Bankruptcy

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.

Desert Hot Springs, Calif., a Palm Springs suburb that has flirted with bankruptcy, received an improved stable outlook from Standard & Poor’s.

With a fresh default on debt service looming, Lombard, Ill., wants bondholders to buy into a proposed restructuring of its $190 million of hotel/conference center debt.

The San Bernardino City Council appointed two interim city managers to serve consecutively as the city works to extract itself from bankruptcy.

Puerto Rico's governor lashed out at a federal government court brief that the governor said undermined the commonwealth's self-governing status.

Michigan Gov. Rick Snyder is transitioning the city of Lincoln Park back to local control from state-imposed emergency management.

Bills introduced by Senate and House Democrats on Monday to temporarily halt litigation over Puerto Rico debt raise legal issues and could divide rather than unite lawmakers over a solution to the territory’s debt crisis, sources said on Wednesday.

Four Senate Democrats and the House Minority Leader have introduced identical bills that would temporarily halt litigation by bondholders and creditors over Puerto Rico’s debt until Congress takes action to allow the territory to restructure the debt.

A Dec. 19 deadline for Atlantic City to pay the Borgata $62 million in tax refunds has passed and now the casino giant is asking a judge to order the payment.

The Federal Trade Commission has moved to block the proposed merger of Illinois-based Advocate Health Care and NorthShore University Health System citing to anti-competition concerns.

Congress postponed action on Puerto Rico’s debt crisis to next year as the island’s governor blasted U.S. legislators as pawns of Wall Street.

A decision by the Kentucky Supreme Court to not review a lower court decision allowing library districts to assess property taxes is a credit positive, said Moody's Investors Service.

The bondholders and insurer in the San Bernardino, Calif. bankruptcy case are both criticizing what they describe as the city’s lack of coherent financial disclosure.

After a multi-year battle, with Los Angeles, the Ontario, Calif. airport reverts to local control once the Ontario International Airport Authority receive approval from the Federal Aviation