Detroit bankruptcy

Detroit's effort to repay its limited-tax general obligation bondholders only about 10 cents on the dollar would send shock waves through the muni industry and stifle economic growth, SIFMA argued in a court brief filed Monday.

Michigan lawmakers unveiled a package of 11 bills Thursday aimed at hastening Detroit's exit from bankruptcy and managing the city's post-Chapter 9 recovery.

Michigan would create a board to oversee Detroit for up to 20 years and contribute $195 million to the troubled city's pensions in a series of bills expected to be unveiled late Thursday.

Michigan lawmakers Tuesday created a special committee to deal with Detroit's bankruptcy and recovery ahead of legislation outlining a state contribution that could be unveiled as soon as Thursday.

Bankrupt Detroit Monday filed a new plan to adjust its debt that reflects recent settlement with key creditors, though deals with some bondholders remain elusive.

The board representing a major Detroit civilian retiree group board has voted in favor of supporting Detroit's proposed plan of adjustment.

The California Public Employees' Retirement System has filed a friend of the court brief in support of appeals to Detroit's eligibility to be in bankruptcy.

A federal judge Wednesday heard arguments from Michigan attorneys defending the state's controversial emergency management law from a lawsuit that calls it unconstitutional and illegal.

An issuer's credit health may become more important to the evaluation of special revenue bonds if Detroit impairs its water and sewer debt, Fitch Ratings said in a detailed look at how it may revise criteria after the largest municipal bankruptcy in the U.S.

The banks that hold $1.4 billion of Detroit pension certificates have appealed the bankruptcy court's recent approval of a settlement with the counterparties that hold interest-rate swaps hedging the certificates.

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.

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.

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.

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.

Detroit's Bankruptcy Judge Steven Rhodes Thursday ordered Detroit and three counties into mediation to try to hammer out a stalled deal to create a new regional authority to run the city's massive water and sewer system.