WebMar 4, 2014 · The Detroit Emergency Manager, Kevyn Orr, has announced the third iteration of a settlement of a massive derivatives deal gone wrong, a key element of the largest municipal bankruptcy in history. On the surface, it appears to be a significant improvement over the prior versions. But appearances can be deceiving. WebMar 4, 2014 · The Detroit Emergency Manager, Kevyn Orr, has announced the third iteration of a settlement of a massive derivatives deal gone wrong, a key element of the …
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WebAug 22, 2014 · The refinancing plan is part of Detroit's effort to exit Chapter 9 bankruptcy, and the deal still needs approval from the bankruptcy court. A hearing on the financing … WebJul 19, 2013 · Even if the entirety of the debt was in muni bonds, $18 billion is barely a ripple in a market with $2.9 trillion in bonds outstanding, Dales writes. The next phase of the bankruptcy process bears ... bismarck city ordinance traffic
Detroit
WebDec 10, 2014 · The City of Detroit today closed four transactions totaling $1.28 billion to fund revitalization efforts and creditor settlements, marking the City’s emergence … WebAug 18, 2013 · The filing of the City of Detroit’s Chapter 9 case on July 18, 2013 may be a game changer. ... including holders of the municipality’s bonds. Generally, municipal bankruptcy is a process undertaken in the federal courts that stays creditors from exercising enforcement remedies while the municipality seeks to restructure its … WebJul 24, 2013 · Chapter 9 refers to the section of the bankruptcy code that deals with municipalities that file for bankruptcy. Congress established the Municipal Bankruptcy Act in 1937, after many attempts to address cities' finances during the Great Depression. Fewer than 500 municipalities have qualified for bankruptcy under Chapter 9 since. bismarck city commission meeting