Lawyers for Detroit and a major creditor say they’re close to a settlement in the city’s bankruptcy case. The disclosure was made on Oct. 14 as Judge Steven Rhodes resumed a trial on Detroit’s plan to fix its finances. The …
U.S. Bankruptcy Judge Steven Rhodes ordered a week-long break in Detroit’s bankruptcy trial on Sept. 16, giving the last major objector to the city’s restructuring plan time to rework its case. The hearing will be adjourned from Friday and reconvene …
Detroit and Syncora Guarantee Inc. reached an agreement in their dispute over claims in the city’s $7 billion debt-reduction program that the two sides said may “profoundly alter” the city’s bankruptcy-exit plan. Detroit and Syncora today requested the postponement of …
Detroit’s proposal to exit its record municipal bankruptcy by paying retirees more than bond investors will cause “serious mayhem,” an attorney for the plan’s opponents told a judge. Marc Kieselstein, an attorney for bond insurer Syncora Guarantee Inc., outlined the …
Syncora Guarantee Inc., an opponent of Detroit’s municipal debt-adjustment plan, saw a legal strategy backfire when a judge ruled that the company made “scandalous and defamatory” allegations about the local chief U.S. district judge and mediator in the city’s bankruptcy. …
Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape …
Syncora Guarantee Inc., the bond insurer fighting Detroit’s debt-cutting plans, said it may cancel insurance it wrote for interest-rate swaps that the city is seeking to terminate with an $85 million settlement. Under a deal announced last month, Detroit would …
