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Tuesday, July 17, 2018
Nathan Bomey

GM Settles With 19 Families In Ignition Deaths Case, More Expected

By Nathan Bomey, Detroit Free Press DETROIT — The number of deaths from accidents caused by General Motors’ defective ignition switch is at least 19, the chief of GM’s victim settlement fund has determined. Ken Feinberg has awarded settlements to 19 families whose loved ones were killed because of GM’s ignition-switch problem. That’s up from […]

September 15, 2014

Creditor Syncora Reaches Detroit Bankruptcy Deal, Issues Apology

By Nathan Bomey, Detroit Free Press DETROIT — Detroit’s stiffest bankruptcy opponent — a bond insurer called Syncora — reached a comprehensive settlement with the city of Detroit and issued a formal apology for accusing bankruptcy mediators of “naked favoritism.” The remarkable development places Detroit within a stone’s throw of achieving an amicable resolution to […]

September 15, 2014

Judge Forces Detroit Bankruptcy Foe To Name Its price: 75 Percent Of What’s Owed

By Nathan Bomey, Matt Helms and Tresa Baldas, Detroit Free Press DETROIT — Detroit’s most vociferous bankruptcy opponent said Wednesday the city cannot legally justify treating pensioners better than financial creditors and said it wants to be paid 75 percent of what it’s owed. In a dynamic exchange, Bankruptcy Judge Steven Rhodes demanded that Marc […]

September 3, 2014

Investors Offer $4B Loan To Bankrupt Detroit With Art Museum As Collateral

By Nathan Bomey, Detroit Free Press DETROIT — An investor group offered to loan the City of Detroit as much as $4 billion — up from a $2 billion offer in April — to help the city pay off creditors, reinvest in services and emerge from Chapter 9 bankruptcy. But the deal would require the city to […]

August 27, 2014