Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
On Monday, May 6, 2013, the Securities and Exchange Commission (SEC) charged the city of Harrisburg, Pennsylvania with securities fraud "for its misleading public statements when its financial condition was deteriorating and...more
For the first time, the Securities and Exchange Commission has charged a municipality with securities fraud for misleading statements made outside of the municipality's securities disclosure documents....more
April 2 (Bloomberg Law) -- Although Stockton, California established the right to be in a Chapter 9 municipal bankruptcy, the judge warned the city that victory may be short-lived if bondholders prove that pensioners must...more
A number of municipal entities have been receiving a solicitation to purchase a post-issuance debt policy and procedure manual. The advertisement suggests that having such a policy is required by the Internal Revenue Service...more
Detroit’s increasingly distressed financial condition has created a dynamic and rapidly evolving situation where the potential of a Chapter 9 filing appears to be the subject of renewed discussion and legislative attention. ...more
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