Chapter 9

A federal appeals court on Wednesday ruled that the federal government went too far when seizing assets to repay Scott Rothstein’s Ponzi scheme victims, handing a victory to bankruptcy trustees. Read the Daily Bankruptcy Review article here.

Troubled battery maker Exide Technologies Inc. filed for Chapter 11 bankruptcy protection early Monday as it faced $31 million in interest payments in August and the maturity of nearly $52 million in convertible notes in September. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Jefferson County, Ala., leaders voted Tuesday to accept a debt-settlement plan that will dramatically slash the $3.1 billion owed on its sewer system and allow the struggling county to get out of bankruptcy. Read the Daily Bankruptcy Review article here.

Kevyn Orr, the emergency manager appointed by Michigan Governor Rick Snyder to try to resolve the Detroit financial crisis, has effectively replaced the Detroit mayor,

By Barbara Altimus Shreero

Judge Christopher M. Klein's decision to accept the City of Stockton's petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers' pensions can be reduced through municipal reorganization.