Detroit has reached an “important settlement” with some creditors as it negotiates ways to get rid of billions of dollars of debt, according to court documents filed on July 15, though details of the agreement haven’t been released. The disclosure …
An insurance company that backs more than $170 million in Detroit bonds says it opposes a plan by the city’s state-appointed emergency manager to restructure the city’s finances. Ambac Assurance Corp. said in a statement issued on July 8 that …
Detroit has filed a lawsuit against an insurance company the city says is improperly withholding $11 million a month in casino payments and taxes. According to The Detroit News, the suit against Syncora Guarantee Inc. was filed on July 5. …
The cost for getting back a vehicle that’s towed in Detroit is going up in a big way. Detroit announced that Detroit City Council approved the new rate for recovering vehicles that are towed to the city impound lot or …
Michigan’s Department of Insurance and Financial Services (DIFS) has ordered a Detroit-area auto dealer to stop selling insurance without a license. The DIFS issued a cease and desist order against Monaco Motors Ltd., Camillo Anthony Monaco, and Darrell Lees, for …
Detroit officials say they’re making plans to lay off 400 to 500 city employees in the new year, roughly 5 percent of the workforce. The disclosure was made Dec. 7 as Mayor Dave Bing said he has enough votes in …
The Michigan Office of Financial and Insurance Regulation (OFIR) recently announced that some Detroit-area drivers may have unknowingly purchased fraudulent automobile insurance policies from unlicensed insurance agent. According to the OFIR, Shaker Uddin Sadeak, through an unlicensed insurance agency named …
An employee fatally stabbed a co-worker Thursday at a Chrysler factory in Detroit and then fled to a city park where he killed himself, police said. The stabbing was reported around 8 a.m. at a Chrysler plant that makes the …
Aon Risk Solutions has promoted LeAnne McCorry as national managing principal of the business and executive chairman of the Detroit, Mich., office and Carol Williams as resident managing director and chief executive officer of the Detroit office. McCorry, who has …
A federal judge in Michigan has ordered the cash-strapped Detroit Public Schools to pay $425,000 to the family of a special education student who had a seizure and died after being forced to walk unassisted by a school aide. The …
