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Aug 28, 2014, 14:39 ET City of Detroit Secures $275 Million Chapter 9 Exit Financing Bond Facility Commitment from Barclays Capital

 Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), announced today that the City has secured a $275 million...


May 02, 2014, 18:05 ET Detroit Reaches Pension Agreement With Retired City Employees

 The City of Detroit, working through federal bankruptcy mediators, has reached an agreement on the treatment of pension and healthcare...


Mar 31, 2014, 19:34 ET City of Detroit Files Amended Plan of Adjustment, Disclosure Statement

 The City of Detroit (the "City") today filed an amended plan of adjustment (the "Plan") and a related disclosure statement (the "Disclosure...


Mar 03, 2014, 20:39 ET City of Detroit Reaches 'Swaps' Settlement with UBS and Merrill Lynch

Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), announced today that the City, UBS AG ("UBS") and Merrill Lynch...


Feb 21, 2014, 11:15 ET City of Detroit Files Plan of Adjustment and Related Disclosure Statement

 Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), today filed the City's Plan of Adjustment ("Plan") and a...


Jan 31, 2014, 18:58 ET City of Detroit Sues to End Pension Finance Schemes

Kevyn Orr, Emergency Manager for the City of Detroit, ("Detroit" or "the City") today authorized the City to take legal action to end the...


Jan 29, 2014, 17:55 ET City of Detroit Emergency Manager Presents Plan of Adjustment to Creditors

Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), today presented to the City's creditors who are participating...


Jan 22, 2014, 16:34 ET Detroit Emergency Manager Welcomes State Commitment to Help Shore-Up City's Public Employee Pensions

Kevyn Orr, the Emergency Manager for the City of Detroit (Detroit or the City) today issued the following statement after Michigan Governor Rick...


Jan 16, 2014, 17:43 ET City of Detroit Issues Statement on Pension 'Swaps' Settlement and Post-Petition Financing Decision

 Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), issued the following statement on behalf of the City...


Dec 24, 2013, 16:43 ET City of Detroit, Banks Reach Agreement to 'Significant Reduction' on Pension Swaps Termination Deal

Following two days of intense negotiations with a federal mediator, the City and the banks that underwrote a controversial pension funding plan...