Municipal Bankruptcy

Two Courts Seemingly Differ on the Nature of Puerto Rico’s PROMESA Proceedings

Bondholders won a skirmish but may still lose the war with Puerto Rico.

Constitutionality of the Puerto Rico Oversight Board Upheld in District Court

PROMESA’s authority is in the Territories Clause of the Constitution, District Judge Swain says.

Court:

California Treasurer Candidate Proposes to Change to Hands-Off Approach in Muni Bankruptcies

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Analysis: Many States Are Likely Unprepared For Next Downturn

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Michigan Cities Move Off the State’s Critical List

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Bond Market ‘Very Forgiving’ of Alabama County’s Record Collapse

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Banks Pull Back on Municipal Debt for First Time in Nine Years

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Commentary: California Cities Keep Declaring Fiscal ‘Emergencies,’ and Investors Are in on It*

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