The Daily Docket: Bond Insurers Sue Detroit

Municipal bond insurers are accusing Detroit of illegally spending certain tax money on the city’s operations instead of repaying about $370 million worth of bonds that the city borrowed to pay for improvement projects. Read the Daily Bankruptcy Review article here.

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Bloomberg reports on Eike Batista’s management overhaul for OSX Brasil SA’s upcoming restructuring.

The city of Desert Hot Springs, Calif., is considering filing for bankruptcy protection after a major drop in revenue, Bloomberg reports.

According to Fox News, Moody’s has warned that Scranton, Pa., could be facing default or bankruptcy.

The Brooklyn Philharmonic Symphony Orchestra is struggling to find the cash to stay open, Crain’s New York Business reports.

The New York Times looks at the treasure hunters of the financial crisis.

Atlantic City, N.J.’s Revel casino is mulling a sale six months after leaving bankruptcy, Bloomberg reports.

Not all Blockbuster stores are closing—some stores owned by franchisees are staying open, The Wall Street Journal reports.

Credit Slips points us to a symposium on students loans taking place next spring in Boston.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.