Bankruptcy

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.