Chapter 9

Forward Motions: Judge Could Clear Detroit to Leave Bankruptcy

10/31/14

Detroit could get a ticket to get out of bankruptcy next Friday.

U.S. Bankruptcy Judge Steven Rhodes will reveal his decision on whether the city’s bankruptcy-exit plan, which cuts $7 billion in debt, is fair.

City leaders and creditors picked through the details of the plan during a trial that lasted several weeks. The plan calls for $275 million in new borrowing and a $1.7 billion reinvestment in removing blighted buildings and boosting police and fire services in the city.

[more]

The Daily Docket: Judge Approves Stockton Bankruptcy Plan

10/31/14
Gosia Wozniacka

The federal judge overseeing the two-year-long bankruptcy of Stockton, Calif., ruled Thursday that the distressed city can exit court protection without deeper cuts to its pension obligations.

[more]

The Daily Docket: Wyly Lawyers Seek Approval for Art Sale

10/30/14
In this May 6 file photo, Texas entrepreneur Sam Wyly arrives to U.S.
[more]

The Daily Docket: Indiana Toll Road Approved to Leave Bankruptcy

10/29/14

A bankruptcy judge cleared the operator of the Indiana Toll Road to exit Chapter 11 and continue its hunt for a buyer who can help the company pay off about $6 billion in debt. The Wall Street Journal has the Daily Bankruptcy Review article here.

[more]

The Daily Docket: Oncor Auction Rules Fight Wraps Up

10/28/14

Unsecured creditors are campaigning to stop, or at least slow, Energy Future Holdings Corp.’s plan to auction its stake in the Texas transmission business Oncor, a sale the company says is crucial to resolving one of the biggest bankruptcies on record. Read the Daily Bankruptcy Review article here.

[more]

The Daily Docket: GT Bankruptcy Pros Disclose Client Ties to Apple

10/27/14
An attendee demonstrates the Apple Watch after a product announcement at Flint Center in Cupertino, C
[more]

Forward Motions: Judge to Hear Closing Arguments in Detroit Bankruptcy

10/24/14
Fireworks burst over the Detroit city skyline during the annual Ford Fireworks show in downtown, Monday, June 23, 2014.
Associated Press

After a weekslon

[more]

International Insolvency Treaty: The Conversation Is Happening

10/23/14

International treaties take years to complete as it is, so imagine the complexities at play in a hypothetical international insolvency treaty.

But at least people are starting to talk about it.

[more]

The Daily Docket: Moody’s Shows Default Loss Analysis Is Predictive

10/23/14

Debt holder losses on defaulted debt were in line with Moody’s Investor Service predictions, a new analysis of hundreds of bankruptcies by the credit ratings agency showed. Read the Daily Bankruptcy Review article here.

[more]