Bankruptcy

With two new settlements in hand, Detroit's attorneys at a hearing Monday touted the city's recent progress, with the judge calling the series of deals unprecedented in Chapter 9 history.

Settlements are coming quickly now in the Detroit bankruptcy case, as the city Monday announced a deal with a coalition of unions over collective bargaining agreements.

The federal judge overseeing Detroit's bankruptcy will consider final approval of a key bankruptcy document Monday that includes a fresh settlement reached with retirees late Friday.

Detroit emergency manager Kevyn Orr said a handful of major infrastructure projects and the city's thriving downtown will help drive a revival that mirrors places like Miami and Baltimore.

Oversight will be key to keeping the city out of another Chapter 9, Detroit CFO John Hill said at a Chicago forum on Wednesday.

Officials at Ohio-based Promedica Health System Inc. said they would go to the U.S. Supreme Court if necessary after a federal appeals court ruled a merger with another local provider would be anticompetitive.

Union-owned Amalgamated Bank has been carving a niche for itself with bond transactions in Harrisburg and Scranton, Pa., and Allen Park, Mich.

Faced with legal challenges to its plans for a publicly-backed hotel near the Oregon Convention Center, the Portland Metro Council has asked a judge to review its financing plan for the project.

Limiting the stays of Pennsylvania cities in the workout program for distressed communities could be counterproductive, said an aide to Gov. Tom Corbett.

An Orange County, Calif. citizens' group says it will file a lawsuit in an attempt to invalidate $265 million in bonds issued for an expansion to the Anaheim convention center.

Jefferson County, Ala.'s attorneys say petitions appealing the county's bankruptcy exit plan fail to address legal matters and contain "tangential allegations."

Former Bank of America executive Douglas Lee Campbell received no fine or prison from federal Judge Kimba Wood for his role in rigging municipal bond contracts.

U.S. Bankruptcy Judge Steven Rhodes tapped Martha Kopacz of Phoenix Management Services to act as a municipal finance expert witness reviewing Detroit's bankruptcy exit plan, and Richard Ravitch as a consultant to the court.

The judge overseeing Detroit's bankruptcy ordered the city back into mediation with limited-tax GO bondholders and water and sewer holders in a renewed effort to reach settlements.

A federal appeals court on Friday upheld Wisconsin's law limiting collective bargaining rights.

U.S. Bankruptcy Judge Steven Rhodes was expected to make a quick announcement of his choice for a municipal finance expert to help him analyze the feasibility of Detroit's bankruptcy plan.

New Mexico must recognize the Fort Sill Apache tribe, according to a state Supreme Court ruling that Gov. Susana Martinez's administration fears will lead to the opening of a casino.

Research firm Municipal Market Advisors questioned the feasibility of Detroit's recent pension settlements, warning that the proposed cuts are so minimal the city could end up back in Chapter 9.

The city of Fort Wayne plans to issue up to $67 million of bonds to finance the takeover of a nearby water utility.

Rhode Island's failed attempt to settle a lawsuit challenging its pension overhaul law casts uncertainty over the state's finances, say Moody's and Janney.