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Syncora Guarantee Inc. is targeting the federal mediators who crafted the main settlement at the heart of Detroit's bankruptcy exit plan, arguing that they showed illegal and politically motivated bias toward pensioners and saving the city's art.
August 12 -
Detroit said a planned $300 million exit financing that key to its recovery will feature a first lien on income taxes and mature in 11 to 15 years.
August 12 -
Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.
August 8 -
Bond insurer Syncora Guarantee Inc., Detroit's fiercest opponent in the city's bankruptcy case, said it is already gearing up for appeals process assuming the city's plan is confirmed in a trial set to start later this month.
August 7 -
Bankrupt Detroit has floated a plan asking holders of $5.2 billion of water and sewer bonds to tender their debt, allowing the city to refinance in an effort to achieve savings.
August 6 -
The Sixth Circuit Court agreed to postpone hearings on a series of appeals on the city's eligibility to enter into Chapter 9 after a group of labor creditors in the Detroit bankruptcy and the city asked for the delay.
August 1 -
A year after Detroit filed for bankruptcy, the city's decision to put pensioners above bondholders has created an uncertain recovery environment for the entire muni sector, according to Standard & Poor's.
July 30 -
The federal judge overseeing Detroit's bankruptcy has delayed by one week the key trial in the case, while the city dropped its proposal to hire a post-bankruptcy monitor and FGIC dropped its subpoena of Gov. Rick Snyder
July 30 -
The 6th circuit appeals court will hear oral arguments Wednesday on Syncora's appeal of a key decision in the Detroit bankruptcy, one of the insurer's five pending appeals in the case.
July 29 -
Detroit emergency manager Kevyn Orr Tuesday issued an order that gives the city's mayor control of the Detroit Water and Sewerage Department.
July 29