A federal judge on Thursday ordered ongoing mediation in Detroit's historic bankruptcy over a potential settlement between the city and one of its fiercest creditors, while adding holdout creditor Financial Guaranty Insurance Co to the list of parties whose attendance is required. U.S. District Judge Gerald Rosen, the chief mediator in the bankruptcy case, ordered that mediation, which began on Thursday, will also take place on Friday and will continue "day-to-day thereafter as deemed necessary, until released by the mediators." The city and Syncora Guarantee Inc, the bond insurer that had been the fiercest holdout creditor in the case, notified the U.S. Bankruptcy Court on Tuesday that they had reached a settlement in principle. http://yhoo.it/1qKzA42 http://bit.ly/1fJ5yqZ
More Mediation Ordered Over Potential Detroit Bankruptcy Deal
A federal judge on Thursday ordered ongoing mediation in Detroit's historic bankruptcy over a potential settlement between the city and one of its fiercest creditors, while adding holdout creditor Financial Guaranty Insurance Co to the list of parties whose attendance is required. U.S. District Judge Gerald Rosen, the chief mediator in the bankruptcy case, ordered that mediation, which began on Thursday, will also take place on Friday and will continue "day-to-day thereafter as deemed necessary, until released by the mediators." The city and Syncora Guarantee Inc, the bond insurer that had been the fiercest holdout creditor in the case, notified the U.S. Bankruptcy Court on Tuesday that they had reached a settlement in principle. http://yhoo.it/1qKzA42 http://bit.ly/1fJ5yqZ
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