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Syncora Guarantee Inc. is pushing back against widely reported claims that it is receiving 26 cents on the dollar in its tentative settlement with Detroit, saying the actual recovery is much lower than reported.
September 11 -
Detroit's chief bankruptcy mediator ordered FGIC, the last holdout creditor, into talks with the city and Syncora Guarantee Inc. and other major creditors on Friday to try to resolve a dispute over $1.5 billion of certificates of participation.
September 11 -
Detroit and Syncora Guarantee Inc. will spend the next few days working to finalize a major agreement that would speed up the bankruptcy, but important questions remain in the case, muni market experts said.
September 10 -
Detroit's historic bankruptcy case saw a major breakthrough late Tuesday when the city and its strongest opponent, bond insurer Syncora Guarantee, announced they had reached an agreement in principal.
September 10 -
Detroit Mayor Mike Duggan said emergency manager Keyvn Orr will likely serve as a consultant to the city's bankruptcy after his tenure as emergency manager expires at the end of the month.
September 9 -
Detroit has reached a deal to spin its troubled Water and Sewerage Department to a new regional authority, that allows up to $800 million of new money bonds for capital improvements to assets located in the city limits.
September 9 -
Pension obligations are no different than borrowing obligations, public finance expert Richard Ravitch told a group of investors in New York.
September 9 -
Detroit entered the second week of the confirmation trial for its bankruptcy exit plan Monday, calling witnesses who testified to the city's desperate need for the $1.5 billion of capital investments featured in the plan.
September 9 -
Detroit's first witness in its bankruptcy trial, CFO John Hill, testified that the city's confirmation plan would mean more money for the struggling city but that meeting some of the revenue targets could be difficult.
September 5 -
The three counties around Detroit objected to the city's bankruptcy exit plan, arguing that the proposed treatment of the massive Detroit Water and Sewerage Department would spell catastrophe for the aging system.
September 4