CHICAGO — A federal judge in Indiana last week gave final approval to Menasha, Wis.'s $17.5 million settlement with bondholders that resolves litigation over the city's default on $23 million of appropriation-backed notes for its failed steam plant.

The court approved the cash settlement and attorney fees of $1.2 million, triggering a 30-day appeal period. Bondholders can expect distribution of the settlement funds early next year if no appeal is filed, according to bondholder attorney Mark Alson of Ice Miller LLP.

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