Detroit should be able to access capital markets and borrow at a rate of around 5 percent after it exits bankruptcy, as long as its tax revenue remains stable, a city consultant said on Tuesday.
Tags: Bankruptcy
SEC seeks to double $200 million damages award against businessman Wyly
The U.S. Securities and Exchange Commission will ask a federal judge to more than double the money Texas businessman Sam Wyly must pay from $200 million to $455 million for his involvement in an offshore fraud scheme, a lawyer for Wyly said on Friday.
Todd Chrisley Family Updates: Bankruptcy, Drug Use and Child Custody
Todd Chrisley from "Chrisley Knows Best" is just as human as any other person on earth, and proof of this is the bankruptcy that the family is experiencing.
U.S. airlines see third-quarter profits rise, upbeat outlook
American Airlines Group (AAL.O), United Airlines (UAL.N) and other carriers reported strong third-quarter profits on Thursday, helped by falling fuel costs, and mostly shrugged off concerns that Ebola could affect their outlook.
Infrastructure investors line up for Indiana toll road
Some of the world's largest pension funds and infrastructure investors are forming consortia to bid for the operator of an Indiana toll road that filed for bankruptcy last month, according to people familiar with the matter.
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Michigan officials on Friday signed off on four bond issues totaling $1.1 billion that would fund Detroit's exit from the biggest-ever municipal bankruptcy.
Sources told Bloomberg that pizza restaurant chain Sbarro is preparing for a bankruptcy filing which could take place any time in the next few weeks.
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
Detroit pension funds, the General Retirement System and Police and Fire Retirement System, submitted an expedited appeal with the US 6th Circuit Court of Appeals on a judge's ruling about Detroit's bankruptcy.
Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
Eagle Merchant Partners, the firm managing the legacy portfolio firms of its former parent bank Arcapita, said it will not be selling Arcapita's assets for cents on the dollar, The Wall Street Journal reported.
Three of the four largest claims against the US estate of bankrupt telecoms company Nortel Networks Inc has been resolved, reducing the bills the estate needs to settle by by $5.14 billion, said a Reuters report.
Outgoing chief executive officer of General Motors Co Dan Akerson has said that US taxpayers actually netted a gain despite the US government losing $10.5 billion stemming from a bailout package it extended to the carmaker in 2009, according to an Associated Press report.
A US Bankruptcy Court gave its approval to Savient Pharmaceuticals to sell all substantially all its assets to Crealta Pharmaceuticals, a firm backed by private equity company GTCR.
