Yvette Shields

Detroit's federal bankruptcy judge urged the appellate court to reject an appeal of his recent rulings on the city's eligibility for Chapter 9 and declined to recommend an expedited appeal process.

CHICAGO – The Detroit City Council approved two of three measures needed to advance plans for a partially bond-financed $650 million downtown development that includes a new hockey arena and entertainment district.

CHICAGO - Detroit told the bankruptcy court Friday it may sue its interest-rate swap counterparties without a revised settlement to terminate the swaps under more favorable terms. The warning raises the stakes on mediation.

CHICAGO –Indianapolis lost its top issuer credit rating from Standard & Poor's Tuesday over the rating agency's recent changes to its local general obligation credit criteria; it was dropped two notches.

Detroit's mayor-elect, Mike Duggan, will manage the bankrupt city's day-to-day operations under an agreement with the city's emergency manager, Kevyn Orr, that was announced Thursday.

Auction house Christie's valued bankrupt Detroit's art collection at between $454 million and $867 million in a final assessment turned over to city emergency manager Kevyn Orr this week.

CHICAGO – A federal bankruptcy court judge abruptly suspended hearings on Detroit's proposed $350 million debtor-in-possession financing and settlement with its interest-rate swap counterparties Wednesday and urged the city to use the time to renegotiate the swaps termination deal.

The federal bankruptcy court judge overseeing Detroit's historic Chapter 9 filing pressed the city Wednesday for more information on its strategy behind the decision to negotiate a settlement with interest-rate swap counterparties.

Detroit had to pursue a settlement with the interest-rate swap counterparties on its pension certificates or risk the "cataclysmic" loss of access to casino revenues, the city's investment banker told the bankruptcy court Tuesday.

St. Louis-based Stern Brothers & Co. is bulking up its staff with additional bankers and sales professionals.

The Minneapolis City Council approved plans for a $400 million development adjacent to the new Minnesota Vikings professional football stadium.

CHICAGO - Standard & Poor's lowered its rating on Western Illinois University to A-minus from A and assigned a negative outlook. It also revised its outlook on Governors State University's A-minus rating to negative.

CHICAGO - The judge overseeing Detroit's bankruptcy ruled creditors can appeal directly to the U.S. Court of Appeals for the Sixth Circuit rulings that the city is eligible for Chapter 9 and pensions are not protected in bankruptcy.

Illinois saw its yield penalties reduced in its first bond sale after lawmakers passed legislation aimed at stabilizing its underfunded pension system.

The Illinois Finance Authority board gave a green light to two healthcare financings and renewed executive director Chris Meister's appointment for another year.

Women in Public Finance named former Pennsylvania Treasurer and Artemis Capital Group co-founder Robin Wiessmann the recipient of its lifetime achievement award as part of its 8th annual Founders’ Awards.

Regional Transportation Authority of Illinois head Joseph Costello will retire from the agency where he has worked for the last two decades first as fiscal chief and then as executive director.

Standard & Poor's shifted its outlook on Illinois' general obligation outlook to "developing" from "negative" Tuesday following passage of a sweeping pension restructuring but warned the state is far from out of the woods fiscally.

As Illinois girds for a promised legal challenge, backers of the state's newly minted pension overhaul believe the legislation can pass constitutional muster by what it offers public sector workers in exchange for benefit cuts.

Minnesota now projects a $1 billion budget surplus for its current two-year budget cycle thanks to higher taxes and the state’s ongoing economic recovery.