Caitlin Devitt

Detroit defended its right to enter into bankruptcy in a 135-page court paper that tackles creditors' objections and offers a few glimpses into arguments it may use in its Chapter 9 case.

The school board in Minot, N.D., grappling with a spike in enrollment from the state’s historic oil boom, will ask voters in a special election this year to approve a $125 million borrowing.

Wayne County has abandoned work on a $300 million bond-funded new jail in downtown Detroit and formed a task force to study alternatives for the site and the project’s cost overruns.

The emergency manager of Hamtramck, a small town surrounded entirely by Detroit, began implementing her financial plan to revive the city by firing a trio of top city employees and cutting the City Council’s pay.

Oakland County’s delay on its $350 million bond deal originally set for next week has nothing to do with Detroit, a top executive said Wednesday.

Michigan Wednesday launched a financial investigation into two more local governments in the metro Detroit region.

Detroit emergency manager Kevyn Orr and the bankrupt city's investment banker said in depositions that the need to access casino revenue drove tense negotiations with interest-rate swap counterparties.

Oakland County, Mich., may delay a $350 million bond sale set for next week.

Bankruptcy Judge Steven Rhodes granted Michigan's request for an expedited hearing on a motion to quash a request to depose Gov. Rick Snyder.

Moody's Investors Service last week downgraded nearly $1.9 billion of debt issued by Omaha Public Power District amid the district's ongoing problems with its nuclear plant.

The airport in Gary, Ind. received 10 responses from firms interested in privatizing the facility and surrounding land that stretches to Lake Michigan.

Moody's Investors Service downgraded its rating on Cook County Forest Preserve to A1 from Aa2, driven by the district's mounting pension debt.

Judge Steven Rhodes, the federal judge overseeing Detroit’s bankruptcy case, ruled this morning that Detroit can continue to access crucial casino revenues while a dispute over a settlement on the city’s interest rate swaps is settled.

The Michigan Senate late Tuesday narrowly approved an expansion of the Medicaid program under the new federal health care law, which could bolster Detroit's bankruptcy reorganization plan.

Progress on a controversial bond-financed new hockey arena in downtown Detroit hit an obstacle this week when a state development board delayed a vote on the deal.

The Ohio Supreme Court has set Sept. 9 as the date to hear oral arguments in a case related to the constitutionality of JobsOhio, a private entity that leased the state's liquor distribution system last year.

A fiscal watchdog group warned that Chicago Public Schools faces serious long-term problems -- led by pensions -- despite implementing more than 2,000 layoffs and 50 school closings last year.

Fitch Ratings Wednesday downgraded $41 million of highway improvement bonds issued by Ohio’s Butler County Transportation Improvement district amid declining debt service coverage levels.

U.S. Bankruptcy Judge Steven Rhodes Wednesday heard arguments from a bond insurer trying to halt Detroit's only pre-filing settlement, which would terminate interest-rate swaps hedging the city's pension certificates.

Detroit Public Schools sold $92 million of one-year notes Tuesday with a 4.37% interest rate, a steep penalty compared to most municipal short-term debt but less than the district paid in recent years.