municipal bankruptcy

Detroit's Plan Submission -- Now What?

02/22/14

Much excitement in our nerdly circles is arising about Detroit's plan of adjustment, just filed yesterday.  This has gotten me thinking about what's next (other than the obvious ongoing cajolling/negotiations).  Three ruminations thereon:

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Detroit and the Swaps

01/17/14

So in declining to approve Detroit's proposed payoff of its interest rate swaps – all out of the money, naturally – Judge Rhodes has reminded us that the case is not pending in Wilmington or Manhattan.

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Detroit: Eligibility and Pensions

12/03/13

Two big rulings in Detroit's Chapter 9 bankruptcy today:  first that Detroit is eligible for Chapter 9 and second that it may impair its pension obligations in bankruptcy.  Both rulings were delivered orally from the bench and transcripts aren't yet available, so it's hard to really parse them other than through selected quotations in the media. With that major caveat, here are my initial thoughts on each issue in turn:

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Detroit's Finest

08/21/13

Some thoughts on the Detroit situation, addressing many of the points Adam raised last night, but from a slightly different perspective, up over at Dealb%k.

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