Detroit bankruptcy

A conference in Chicago weighs lessons from Detroit's bankruptcy.

Are a statutory lien and other state-crafted protections on Detroit's first post-bankruptcy bond sale enough for investors assessing the city's long-term recovery?

Detroit is nearing its first public bond sale since bankruptcy as it posted bond documents for the deal on Thursday.

"Detroit's a much better credit than it was two years ago," its former emergency manager, Kevyn Orr, told a municipal bond market group.

Even as it stepped closer to a Michigan state takeover, Wayne County's county's chief executive said the struggling government would not travel down the same path as its largest city, Detroit.

Holders of $5.2 billion of Detroit water and sewer bonds are again playing a key role as the city attempts to execute its last big bargain struck during its bankruptcy.

Holders of $5.2 billion of Detroit water and sewer bonds will have a say in whether a new regional authority will take over the long-troubled Detroit Water and Sewerage Department.