|By Nathan Bomey, Detroit Free Press|
|McClatchy-Tribune Information Services|
The bond insurer -- a
A few weeks ago, it delivered a subpoena seeking a crush of documents from the
"What we're doing is advocating for the highest and best reorganization and rehabilitation of the
'Let's keep the war analogies to a minimum'
The city, on the other hand, doesn't view
In one court filing, the city accused
At other times, the city has accused
"I have to take exception to the notion that
Rhodes, who has generally rejected
"Let's keep the war analogies to a minimum if not eliminate them from our discussion altogether," Rhodes said. "Phrases like 'scorched-earth,' 'nuclear' and 'carpet-bombing' really are not necessary and appropriate in the courtroom context."
As several major creditors -- including bondholders and pensioners -- resolve their disputes with
The company's Syncora Capital Assurance unit guaranteed payments on about
By one count, the city's restructuring proposal would pay
"We actually believe we've been treated hyper-aggressively by the city," said
The insurer has a close ally in bond insurer
In an interview, Orr declined to speculate about
"They certainly have filed a lot of objections," Orr said. "As
"The idea of taking such a strong stand can sometimes backfire," she said. "So there is that risk."
"Obviously we would not deny that
The rivalry between Orr's high-profile team of
"I'm back," Hackney said, smiling.
"Sent chills up my spine," Heiman replied with a smirk.
They shared a laugh -- ever so briefly -- and then resumed their court battle.
At the heart of their dispute is the Kilpatrick debt deal -- a scuffle that dates back to the days before
The insurer, in fact, helped tip
So far in the bankruptcy,
But Rhodes has already signaled that he believes the
A success for
The insurer could lose as much as
To mitigate creditor losses,
The city's Hertzberg exuded frustration during an
"I'm impressed I managed to ambush somebody by requesting something they refused to give me," Hackney retorted.
When Orr took the witness stand, the spat between the city and
"I wouldn't call it a pleasure, but it's nice to see you again," Orr responded.
"No offense," Hackney said.
(c)2014 the Detroit Free Press
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