Law and legal issues

Long-term pressures continue to weigh on Detroit’s recovery, a year after the city emerged from bankruptcy with a healthier balance sheet.

Stockton, Calif. has notched another legal win for its bankruptcy exit plan. That doesn’t mean the fight is over.

U.S. Bankruptcy Judge Alan C. Stout likely will determine in January if Hillview should be the first municipality in Kentucky to qualify for Chapter 9 bankruptcy.

The Republican chairs of three Senate committees that have jurisdiction over Puerto Rico and bankruptcy introduced a bill on Wednesday night that would establish an authority that could issue bonds and provide up $3 billion in resources to help Puerto Rico stabilize its budget and debt.

Moody's Investors Service upgraded three of Jefferson County, Ala.’s credits three notches to investment grade citing improved financials and the expanding local economy.

An Alabama federal judge entered judgments approving settlements in the Securities and Exchange Commission’s cases against former JPMorgan bankers Douglas MacFaddin and Charles LeCroy, who were accused of wrongdoing in the Jefferson County, Ala. sewer financings.

Key portions of a lawsuit filed by a group of Chicago retirees to block the city’s attempt to phase out their healthcare subsidies can proceed, a state court judge ruled.

California Attorney General Kamala Harris approved a management agreement for the Daughters of Charity Health System saying it would stave off bankruptcy and maintain services at the hospital chain.

With dozens of private detention facilities in operation today, battles in the courts and campaign trail could enhance or dim the outlook for detention debt in 2016.

The Supreme Court has agreed to take up Puerto Rico's appeal of a lower court ruling that the commonwealth's local restructuring law is not allowable under federal bankruptcy law.

A Suffolk County Superior Court dismissed Boston’s lawsuit aimed at stopping Wynn Resorts’ planned $1.7 billion casino in nearby Everett.

Luzerne County, Pa., is looking for a lender after it got judicial signoff on $20 million in emergency borrowing to avoid a shutdown.

Rhode Island Treasurer Seth Magaziner called for an overhaul of state debt management, saying the 38 Studios fiasco is not the only example of poor practices.

U.S. Bankruptcy Judge Alan C. Stout will decide after hearings on Dec. 9 and 10 whether Hillview, Ky., is eligible to proceed with its bankruptcy petition.

The Illinois-based College of DuPage’s former treasurer Thomas Glaser and controller Lynn Sapyta filed a federal lawsuit Tuesday accusing their former employer of wrongful termination for their opposition to a board member’s political agenda.

Two former JPMorgan bankers have agreed not to violate securities laws and to repay money they made while working on transactions involving Jefferson County, Ala., Securities and Exchange Commission documents said Tuesday.

A legal opinion defining San Diego Unified School District bonds as special revenues was credited with the district's $470 million pre-Thanksgiving general obligation bond sale being oversubscribed.

Puerto Rico Gov. Alejandro García Padilla, who will soon decide whether the commonwealth will default on a debt service payment, and Pedro Pierluisi, the territory's representative in Congress, will headline a Senate committee hearing on Tuesday to address the commonwealth's fiscal and debt crisis, as well as possible fixes.

Texas could face the loss of as much as $1.1 billion per year in franchise tax revenue if a recent court ruling survives an appeal, Comptroller Glenn Hegar warned.

Christopher Brogdon, the retirement home financier who is facing Securities and Exchange Commission charges, has denied being liable for a particularly problematic deal in new filings with a federal court in Georgia.