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Detroit's newest bondholder settlement calls for a 66% haircut for limited-tax general obligation bondholders, a deal that's severe but unsurprising given Detroit's credit, muni experts said.
July 14 -
Syncora lost a key appeal in the Detroit bankruptcy case, giving the city continued access to crucial casino revenues.
July 11 -
Detroit's settlement with its limited-tax general obligation bondholders would repay them 34 cents on the dollar, the lowest recovery rate reached in a deal so far in the case.
July 10 -
A new assessment of Detroit's art collection puts its price tag at up to $4.6 billion, significantly higher than the city's first valuation and more in line with bond insurers' estimates.
July 9 -
All creditors in the Detroit bankruptcy case must vote on the city's debt adjustment plan by Friday, a key vote that will set the stage for an August trial and the city's effort to exit Chapter 9 by early fall.
July 7