Chapter 9

A high-profile hearing in Detroit on Monday could take the city one step closer to a vote on a restructuring plan.

A federal bankruptcy judge has already dismissed objections from unions, banks and bond insurers, largely clearing the way for a vote by creditors on a debt-reduction plan in the nation’s largest municipal bankruptcy.

A bankruptcy judge on Thursday approved Genco Shipping and Trading Ltd.’s restructuring agreement with lenders and creditors, setting the shipping company on a path to exit bankruptcy in less than seven weeks. Read the Daily Bankruptcy Review article here.

Officials in charge of liquidating a pair of failed Irish banks are asking a U.S. bankruptcy judge to sign off on sales involving about EUR15 billion ($20.72 billion) in soured loans, as Ireland continues to dig out from the wreckage of its collapsed property market. The Wall Street Journal has the Daily Bankruptcy Review article here.

People who are suing General Motors Co. over an ignition-switch defect want a bankruptcy judge to declare that the auto maker’s government-orchestrated sale in 2009 doesn’t shield it from liability for

A bankruptcy judge ruled Thursday that former American Airlines parent AMR Corp. doesn’t have the unilateral right to terminate health and welfare benefits for nearly 47,000 union and nonunion retirees. Read the Daily Bankruptcy Review article via The Wall Street Journal.