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Detroit has asked the bankruptcy court overseeing its Chapter 9 case to dissolve a committee representing unsecured creditors that the U.S. Trustee said is required under code.
February 3 -
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The state of Illinois will thunder into the primary market this week with a $1 billion sale of general obligation bonds, hoping to feed supply-hungry investors after a sluggish start to the New Year.
February 2
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Detroit late Friday filed a lawsuit challenging the legality of the structure tied to its 2005 sale of pension certificates and controversial swaps linked to the debt.
January 31 -
Negotiations intensified on several fronts as Detroit nears a self-imposed deadline to craft a detailed plan to exit Chapter 9 bankruptcy, with the fate of a debtor-in-possession loan in doubt.
January 31
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The growth of shipping fleets is outstripping demand, leading Moody's Investors Service analysts to slap a negative outlook on U.S. ports for the next 18 months.
January 31
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Detroit has reportedly proposed paying its pensioners more and in cash than its general obligation bondholders, who would receive notes equivalent to roughly 20% percent of their claims in its bankruptcy exit plan.
January 31
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Municipal bond mutual funds reported inflows for a third consecutive week as they took in $338 million of net inflows for the week ended Jan. 29, Lipper FMI numbers showed.
January 30 -
The thousands of airline flights cancelled this winter due to severe weather may affect some airports' revenues and cost budgets, Fitch Ratings said.
January 30
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Tax-exempt money market funds lost $2.29 billion in the week ended Jan. 27, as total net assets dipped to $269.29 billion, according to The Money Fund Report, a service of iMoneyNet.com.
January 30
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Detroit's emergency manager said Wednesday he has presented the city's creditors with a proposed plan of adjustment, a key benchmark in the historic Chapter 9 case.
January 29
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The American Public Power Association's board of directors has appointed Sue Kelly to become the group's new president and chief executive officer on April 1.
January 29
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The Detroit Institute of Arts said it will try to raise $100 million as part of a high-profile public-private effort to raise money to pledge to the city's pensions while safeguarding its prized art collection.
January 29
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The head of Amtrak said the rapidly depleting federal Highway Trust Fund should be replaced with a Transportation Trust Fund that can invest in rail as well as highways.
January 29
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