Caitlin Devitt

The Detroit Institute of Arts, which has found itself at the center of the city's high-profile bankruptcy, warned that any attempt by creditors to cash in on the city owned museum's art would spark expensive litigation and undermine Detroit's post-Chapter 9 recovery.

A last-minute measure to overhaul Cook County, Ill.'s troubled pension system sailed through the state Senate Tuesday just hours after it was introduced, and now heads to the House.

Nearly a quarter of Detroit's buildings suffer from blight, and it would take $2 billion to fix the problem across the city, according to a report released Tuesday.

Wayne County, Mich. plans to erase a major chunk of its deficit by shifting more money than expected from its delinquent property tax fund, while it faces a lawsuit challenging the county’s struggling pension fund.

Martha Kopacz, municipal finance expert witness to the Detroit bankruptcy case, asked the court Friday to force the city and Ernst & Young to turn over key documents that they have so far refused to release.

Bond insurer Syncora Guarantee’s appeal of a key Detroit bankruptcy matter was assigned to a judge Thursday.

Ohio's controversial income-tax overhaul legislation, which critics have said could hurt local governments, is on hold until after November elections.

The Michigan House Thursday overwhelmingly and speedily passed legislation aimed at resolving Detroit's bankruptcy and creating oversight for the post-bankrupt city as it exits bankruptcy.

Michigan voters in August will decide whether to eliminate the state's personal property tax, a central source of revenue for many local governments.

JP Morgan Chase CEO Jamie Dimon said Detroit's bankruptcy and proposed bondholder treatment shouldn't hurt the market for local Michigan bonds over the long run, according to the Detroit Free Press.

A Michigan House committee devoted to Detroit's bankruptcy unanimously approved legislation to authorize a $195 million state contribution to the city's pensions and outline oversight of the city post-bankruptcy for the next 20 years.

Michigan legislators neared a vote on a package of bills aimed at resolving Detroit's bankruptcy after a hearing that saw testimony from public finance veteran Richard Ravitch and Detroit Mayor Mike Duggan.

Cuyahoga County, Ohio is bringing $230 million of low double-A rated certificates of participation to market Thursday for a 32-floor Hilton hotel located adjacent to the convention center in downtown Cleveland.

Cincinnati Mayor John Cranley last week unveiled a 2015 budget that includes his plan to transfer $100 million out of the city's retiree health care benefits account into its underfunded pension account.

The fight over Detroit's proposed 10% recovery for its limited-tax general obligation bonds heated up last week as Ambac challenged the treatment as a failure to understand the basics of Chapter 9 and municipal finance.

Federal Judge Steven Rhodes Thursday shot down bond insurers' requests that they be given special access to Detroit's prized art collection for an independent valuation.

Michigan could see nearly $1 billion less than it expected over the next three years, fiscal officials warned Thursday.

Detroit emergency manager Kevyn Orr testified before a special House committee Tuesday that is considering a $195 million state contribution to the city's pension funds that Orr said is essential to the city's recovery.

The "Detroit Three" automakers are reportedly considering giving up to $25 million or more in a plan that would raise money for the bankrupt city's pensioners while protecting the city's prized art collection.

Investors that hold roughly $5.3 billion of Detroit revenue bonds as well as $1.4 billion of its pension certificate debt filed objections to the city's plan of debt adjustment, laying out the arguments they will present at a bankruptcy trial two months away.