Detroit Bond Insurer Syncora Files Complaint Over Management of Bankruptcy Settlements

August 15th, 2014

Detroit Institute of Arts, via Detroit Free PressAs the final details of Detroit’s bankruptcy plan begin to take shape, bond insurer Syncora (the same group that slapped the Detroit Institute of Arts with a massive subpoena months ago) has filed a formal objection over the management of out-of-court settlements in the city’s exit from bankruptcy.  The complaint, filed this week, stated that chief mediator Gerald Rosen made several statements that he felt it was his duty to get the best possible deal for Detroit’s pensioners, rather than maintain impartial judgements in the settlements.

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