Law and legal issues

After the Alabama state Legislature ended its regular session refusing to provide fiscal relief to Jefferson County, commissioners Tuesday redirected money that might have paid GO warrants to the general fund for operations. The county lacks authority to impose taxes without state approval.

A takeover of bankrupt American Airlines by US Airways could bruise some airport credits, with the risks most acute for their hub facilities, Moody's Investors Service warned in a special commentary released Wednesday.

The New York State Insurance Department had many good reasons to approve the split of MBIA Inc. into two parts in 2009, the state's attorney said Tuesday.

Michigan Gov. Rick Snyder appointed Glenda Price, a former college president, to the nine-member financial advisory board that will help oversee the implementation of the consent agreement between Detroit and the state.

As Scranton, Pa.'s City Council and Parking Authority squabble over a $1.4 million allocation the agency says it needs to avoid default, one accountant in the city says Scranton itself should seek bankruptcy protection.

SAN FRANCISCO — Stockton, Calif., officials said Monday creditors have agreed to extend talks on how to keep the city out of Chapter 9 bankruptcy.

The Rhode Island Economic Development Corp. discussed the problems of Curt Schilling’s 38 Studios LLC at a Monday night meeting in Providence, but did nothing.

BRADENTON, Fla. — Tampa Bay Water is asking a federal district judge for a new trial after losing its first case to a jury on April 10 after a month-long proceeding.

The business woes of the online video game company former star baseball pitcher Curt Schilling has founded, which appears to be unraveling faster than the 2011 Red Sox, have set off a political, media and bond-industry firestorm.

Embattled 38 Studios LLC, the video-game company owned by Boston Red Sox pitcher Curt Schilling, made its past-due $1.125 million payment to Rhode Island on Friday, Gov, Lincoln Chafee announced.

38 Studios LLC, the embattled video-game company founded by former Boston Red Sox pitcher Curt Schilling, was on the verge of making its past-due $1.1 million payment to the Rhode Island Economic Development Corp., Gov. Lincoln Chafee's office said late Thursday afternoon.

In a letter to a small Colorado daily newspaper, the developer of a Sparks, Nev., shopping center in technical default on its bonds tried to explain financial issues surrounding the Nevada project while pitching Eagle, Colo., residents on a retail project he is planning there.

Even with their largest county in bankruptcy, Alabama state legislators refused again to provide fiscal relief to Jefferson County and ended their regular session at midnight Wednesday.

Curt Schilling once pitched with a bloody sock, endearing him to New England baseball fans. But his video game firm is in a bloody mess, leaving Rhode Island taxpayers and bondholders exposed.

While bond insurer Ambac Assurance Corp. has been paying policyholder claims for the last several years, its related segregated account branch has not been doing so. On Wednesday the Wisconsin Commissioner of Insurance applied to a Wisconsin court for the segregated account to make cash payments to policyholders for 25% of claims.

The case administrator in Jefferson County, Ala.’s municipal bankruptcy case last week recommended the appointment of an unsecured creditors committee.

Two New York Senate committee chairmen have raised the possibility of investigating bond insurer MBIA Inc.'s behavior when it applied for a transformation of the company during 2008 and 2009.

The U.S. Court of Appeals in Philadelphia has denied the attempt by the Harrisburg City Council to file for bankruptcy on behalf of Pennsylvania’s capital city.

False information provided to a regulating body considering the division of bond insurer MBIA Inc. into two parts should invalidate the split, according to the attorney for the banks suing MBIA in a hearing Tuesday.

Retired Air Force Major General William Lynch helped rebuild Iraq. But can he repair Harrisburg?