Detroit is close to agreements with more creditors on a plan to reduce its $18 billion debt load, lawyers for the city told a judge who withheld a final ruling on whether to allow a vote on the proposal.
Detroit’s “divide-and-conquer” campaign to build support for its plan to shrink $18 billion in debt with a recent series of creditor accords may put pressure on holdouts to settle before a bankruptcy judge decides to push it through, lawyers following the case said.
Unable to pay their rent and turned down for public housing, Yafit Krisi and her husband gathered their four children and moved into a tent outside the city hall in Ashkelon, on Israel’s Mediterranean coast.
Present and past owners of OAO Bank Rossiya, the only company hit with sanctions for Russia’s takeover of Crimea, include three billionaires, two proteges of a Nobel Laureate and, according to a Spanish prosecutor, one possible mob boss.
Billionaire Stephen Ross’s Related Cos. new project in the sleepy end of downtown Los Angeles is designed to invigorate Grand Avenue the way its Time Warner Center helped energize New York’s Columbus Circle.
Los Angeles’s future is threatened by a sixfold increase in public pension costs and dueling bureaucracies that hinder its ports and tourism, according to a panel led by former U.S. Commerce Secretary Mickey Cantor.
New York Mayor Bill de Blasio, marking his 100th day in office, embraced the legislature’s funding of statewide universal pre-kindergarten as his own victory and promised more programs to redress inequality between rich and poor.