News from city of detroit A wide array of domestic and global news stories; news topics include politics / government, business, technology, religion, sports/entertainment, science/nature, and health/lifestyle. Articles that appear in this section may be written in English or other languages, as well.

Jul 28, 2014, 17:40 ET

City of Detroit Files 2013 Comprehensive Annual Financial Report Audited by KPMG

 The City of Detroit ("the City") has filed the 2013 Comprehensive Annual Financial Report ("CAFR") prepared by the City and audited by the...

Jul 22, 2014, 08:16 ET

GRS Is Pleased Members Voted To Support City's Plan Of Adjustment

 Editor's Note:  The following statement may be attributed to Tina Bassett, spokesperson for the General Retirement System for the City of...

Jun 11, 2014, 14:58 ET

General Retirement System Of The City Of Detroit Recommends A Yes Vote For The Plan Of Adjustment

 The General Retirement System of the City of Detroit passed a resolution today recommending acceptance of the City's Fourth Amended Plan of...

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 06, 2014, 15:54 ET

Police and Fire Retirement System investment performance for 2013 exceeds 89% of major U.S. public pension funds

The Police and Fire Retirement System of the City of Detroit has outperformed 89% of the public pension plans with assets of more than $1 billion...

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...

Dec 16, 2013, 14:09 ET

Retirement Systems of the City of Detroit Granted Appeal to Sixth Circuit Court

 The following is a joint statement on behalf of the Boards of the General Retirement System of the City of Detroit and the Police and Fire...

Oct 11, 2013, 15:43 ET

City of Detroit Receives Commitment for up to $350 Million of Post-Petition Financing

Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), today announced that the City has received a commitment for...

Jul 18, 2013, 17:56 ET

Retirement Systems say EM acted in haste to file City Bankruptcy when No Good Faith Negotiations have yet taken place

 The Retirement Systems of the City of Detroit are very dismayed at the Emergency Manager's decision to file for bankruptcy since no good faith...

Jul 18, 2013, 17:24 ET

City of Detroit Commences Chapter 9 Case to Pursue Its Restructuring and Revitalization Plan

Kevyn Orr, the Emergency Manager for the City of Detroit ("Detroit" or the "City"), today announced that Detroit has commenced a chapter 9...

Jul 17, 2013, 19:15 ET

City of Detroit Pension Funds File Lawsuit to Block Bankruptcy Filing

The General Retirement System of the City of Detroit and the Police and Fire Retirement System of the City of Detroit (the "Retirement Systems")...

Jul 05, 2013, 16:30 ET

Detroit Sues Financial Insurer Syncora to Release Improperly Captured City Casino Revenues

The City of Detroit today filed suit in Wayne County Circuit Court against Syncora Guarantee Inc. to recover up to $11 million a month in casino...

Jun 14, 2013, 11:46 ET

Emergency Manager Presents Plan to Secure a Viable, Strong Detroit

Kevyn Orr, the Emergency Manager for the City of Detroit, today presented to the City's creditors a plan that outlines the required steps to secure...

Aug 22, 2012, 15:39 ET

Police and Fire Retirement System Investments in Detroit properties sparks growth, buildings fully occupied

 The Police and Fire Retirement System of the City of Detroit has received full payment on its investment in the One Kennedy Square building...