Detroit's recently filed annual audit warns that the struggling city faces substantial challenge from a possible $440 million cash payment tied to interest-rate swaps that hedge its pension bonds.
Detroit Files CAFR on Time, Warns of Challenge from Swap Penalties
Lessons from litigation over interest rate derivatives may come into sharp focus as the time for Lehman to bring claims against counterparties who terminated derivative instruments shortly after its bankruptcy filing will expire.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY