The Detroit Free Press reported that the City of Detroit has filed for Chapter 9 bankruptcy protection, ranking the event as the largest municipal bankruptcy in U.S. history. read more

JUL 19, 2013 - 6:30 am

Reuters reported that a U.S. federal judge has ruled that the U.S. government may pursue its $5 billion civil fraud lawsuit accusing S&P of misleading investors by inflating credit ratings. read more

JUL 17, 2013 - 6:30 am

According to the UK’s Serious Fraud Office, Terry Farr and James Gilmour, former brokers at RP Martin Holdings, have been charged with offenses of conspiracy to defraud in connection with an investigation into the manipulation of LIBOR. read more

JUL 17, 2013 - 6:25 am

The Wall Street Journal reported that U.S. District Judge David O. Carter said he would tentatively allow the Justice Department's lawsuit against S&P to move forward. read more

JUL 9, 2013 - 7:20 am

Bloomberg reported that S&P will defend itself in the government's fraud case against the ratings agency by arguing reasonable investors would not have relied on its “puffery” about credit ratings. read more

JUL 8, 2013 - 7:20 am

Bloomberg reported that the U.S. Justice Department is seeking a trial in February 2015 in its lawsuit against S&P over ratings on residential mortgage-backed securities. read more

JUN 25, 2013 - 6:35 am

Attorney and Monitor contributor Jeffrey Wurst testified before the American Bankruptcy Institute Commission to Study the Reform of Chapter 11. The ABI invited Wurst to testify in response to his recent article in Monitor sister publication ABF Journal "Is Chapter 11 Still a Viable Option?" read more

JUN 11, 2013 - 1:15 pm

Reuters reported that S&P and its parent company McGraw Hill Financial won a ruling that moves 15 lawsuits in which they were accused of fraudulently inflating credit ratings to a single federal court. read more

JUN 7, 2013 - 6:10 am

The SEC announced it charged PACCAR and its subsidiary, PACCAR Financial, for various accounting deficiencies that clouded their financial reporting to investors in the midst of the financial crisis. read more

JUN 5, 2013 - 6:40 am

Reuters reported that a federal judge approved a settlement that requires the insurer and former chairman of defunct law firm Dewey & LeBoeuf to pay $19.5 million to resolve claims that leaders mismanaged the firm. read more

MAY 31, 2013 - 6:25 am

The SEC charged the city of South Miami, FL with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district. read more

MAY 28, 2013 - 6:35 am

De Lage Landen said it has commenced litigation against Element Financial (USA) and a senior officer of Element alleging that the senior officer gained access to DLL’s computer system without DLL’s consent or knowledge. read more

MAY 23, 2013 - 6:35 am

Caterpillar and Mining Machinery announced that they have resolved all outstanding issues between them arising out of Caterpillar's acquisition of ERA, including its wholly-owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing. read more

MAY 17, 2013 - 6:25 am

Bloomberg reported that AMR Corp., the parent of American Airlines, received court approval to borrow as much as $3.25 billion towards its emergence from bankruptcy. read more

MAY 13, 2013 - 6:00 am

Bank of America announced a settlement with MBIA to resolve all claims between the parties. As part of the settlement, BofA will pay MBIA $1.6 billion in cash, which will have the A/T effect of reducing Q1/13 net income from $2.6 billion to $1.5 billion. read more

MAY 7, 2013 - 6:05 am