June 16, 2014
by Jaclyn Belczyk
The US Supreme Court on Monday denied appeals from Argentina over debts stemming from an economic collapse over a decade ago. The US Court of Appeals for the Second Circuit ruled in October 2012 that Argentina must pay $1.33 billion to bondholders when it repays its debts. The Second Circuit ...[read more]
April 21, 2014
by Jaclyn Belczyk
The US Supreme Court heard oral arguments Monday in two cases. In Republic of Argentina v. NML Capital Ltd. the court heard arguments on whether a hedge fund could subpoena banks for information about Argentina's non-US assets following the country's default on $100 billion in sovereign debt in ...[read more]
February 10, 2014
by G. Redd
Bankruptcy is a process through which a person who is unable to pay his or her debts is granted relief from the courts by undergoing a supervised step-by-step repayment plan; many debts are partially paid as fairly as possible with the assets that the debtor has. Many small US cities are ...[read more]
February 10, 2014
by Michael Roberts
Detroit, Michigan, the historic epicenter of US automotive manufacturing, was once a beacon of industrial prosperity. The "Motor City" was synonymous with automative giants, such as GM, Ford and Chrysler. In recent decades, however, Detroit has seen significant decreases in both population and ...[read more]
February 3, 2014
by Cynthia Miley
Detroit on Friday filed a lawsuit in the US Bankruptcy Court for the Eastern District of Michigan seeking to invalidate the $1.44 billion of debt the city sold to finance by establishing "sham" service corporations to facilitate the debt sales, and claiming and that all contracts or obligations ...[read more]
January 12, 2014
by Elizabeth LaForgia
The US Supreme Court agreed Friday to rule on seven cases. In Republic of Argentina v. NML Capital, the court will consider whether a hedge fund could subpoena banks for information about Argentina's non-U.S. assets following the country's default on $100 billion in sovereign debt in 2002. The ...[read more]
December 19, 2013
by Julie Deisher
A judge for the US Bankruptcy Court for the Eastern District of Michigan on Wednesday ordered Detroit to renegotiate its bankruptcy-related financing with UBS and Bank of America. Judge Steven Rhodes found that the deal, which required Detroit to pay the banks 75 percent of its debt to those ...[read more]
December 5, 2013
by Amy Mathieu
The Illinois General Assembly passed a bill on Tuesday that would reform the state's pension plan to lower future benefits for current state employees. The legislature amended the pension plan in an effort to cut spending and lower the state's debt, which currently includes about $100 billion in ...[read more]
November 17, 2013
by Dan DeRight
JURIST Guest Columnist Neil H. Buchanan, of The George Washington University School of Law, says that Congressional failure to properly address the debt ceiling puts the Executive in an impossible situation with grave risks ...Last month, for the third time in a little more than two years, the US ...[read more]
November 6, 2013
by Matthew Pomy
The city of Detroit on Tuesday asked Judge Steven Rhodes to approve a plan where the city will borrow $350 million in order to pay down interest rates and improve city services. The loan was approved by Barclays PLC but requires judicial approval under Chapter 9 of the Bankruptcy Code. The $350 ...[read more]

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