VENTURE CAPITAL POST

For Detroit, the road in and out of U.S. bankruptcy court is paved with casino money.

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.

French automaker Renault and state-owned Dongfeng Motor Group have finally closed a $1.3 billion partnership agreement after almost a decade. The deal allows Renault to sell locally assembled models in China.

Diego Rivera's Detroit Industry murals, which was commissioned by Ford Motors Co. in 1932, has been protected from Detroit's bankruptcy sale. Britain's Christie's Inc. assessed pieces bought by the city money to be worth USD452 million to USD866 million.

Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.

A federal judge's ruling Tuesday that Detroit is eligible for bankruptcy protection offers municipal bond investors a dose of clarity that could be welcome news at the end of a rough year for the U.S. muni debt market.

The city of Detroit has paid around USD23 million in fees to lawyers, consultants and financial advisers as it awaits a court decision determining its eligibility for bankruptcy protection from creditors.

The city of Detroit had gotten a USD350 million debtor-in-possession financing from Barclays Plc after filing for bankruptcy last July.

Detroit attorneys filed their case in the US Bankruptcy Court in Detroit last Friday for the city's request for bankruptcy protection.

Public labor unions asked a US court to throw out Detroit's bankruptcy filing on various grounds.

Bankruptcy court judge suspends charges made by employees and pension holders to bring focus of the case back into Detroit courtroom.

Local governments that filed for Chapter 9 did not exactly have happy endings.

Huron Capital Partners announced that it had raised up to US$500 million for new investments in high-potential growth companies.

A state judge asked for the withdrawal of Detroit's Chapter 9 bankruptcy protection appeal.

Amidst the fall of their city, Detroit's sports teams have a positive outlook.