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Detroit bankruptcy

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Settlement Plan Moving Forward Between Syncora, City Of Detroit In Bankruptcy Proceedings

Detroit and bond insurer Syncora finished the deal announced last Tuesday to settle over $400 million in claims.

WWJ Newsradio 950–09/15/2014

Sarah Earley, Chairwoman of the Belle Isle Conservancy, with host Carol Cain on the "Michigan Matters' set, discusses the island park and its future. (credit: James C. Turner/CBS 62)

‘Michigan Matters’ Focus: Belle Isle’s Luster Grows Amid State Stewardship

Despite its controversial genesis of Michigan taking over Belle Isle as a state park amid Detroit’s bankruptcy last year, the end result has been positive.

09/12/2014

(Credit: Bill Pugliano/Getty Images)

Detroit Bankruptcy Trial On Hold After Deal With Major Creditor

A judge has suspended Detroit’s bankruptcy trial until Monday to give the city more time to work out details of a settlement with a major creditor.

WWJ Newsradio 950–09/10/2014

Federal Court In Detroit (Photo by Bill Pugliano/Getty Images)

Detroit, Key Bankruptcy Plan Opponent Reach Deal

The joint filing by the city and bond insurer Syncora Guarantee said that they “have reached an agreement in principle” to settle the company’s $400 million claim in the nation’s largest-ever municipal bankruptcy case.

WWJ Newsradio 950–09/09/2014

istockphoto

Detroit’s Computer System Is Years Outdated, New Tech Chief Says

Detroit’s computer system is “beyond fundamentally broken” and years behind the latest software, the city’s new technology chief told a bankruptcy judge Monday.

09/08/2014

(credit: istock)

Creditor Wants 75 Cents On Dollar For Detroit Debt

An attorney for one of Detroit’s creditors says the company believes the city can afford 75 cents on the dollar to settle its debt.

WWJ Newsradio 950–09/03/2014

Federal Court In Detroit (Photo by Bill Pugliano/Getty Images)

Detroit’s Historic Bankruptcy Trial Begins

“All the revenue sources creditors can reach and are permitted to reach are exhausted,” Bennett told Judge Steven Rhodes.

WWJ Newsradio 950–09/02/2014

Federal Court In Detroit (Photo by Bill Pugliano/Getty Images)

Detroit’s Historic Bankruptcy Trial Begins Today

Detroit expects to cut $12 billion in unsecured debt to about $5 billion, which is “more manageable,” according to Bill Nowling, a spokesman for emergency manager Kevyn Orr.

CBS Detroit–09/02/2014

Inside the Detroit Institute of Arts (credit: Bill Pugliano/Getty Images)

Will The City Of Detroit Be Tempted By Offer Of $4 Billion With DIA Art As Collateral?

Art finance lender, Capital Art Group of New York offered to loan Detroit $4 billion, if the DIA collection is used as collateral for the loan.

WWJ Newsradio 950–08/27/2014

C) Mike Muholland - president of Local 207. (WWJ/Stephanie Davis)

Finger-Pointing Begins As Cause For Flooding Is Examined

Water department officials say the system worked exactly as it was designed to – the day of torrential rains – which they say just overwhelmed the system.

WWJ Newsradio 950–08/13/2014

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