Detroit won approval of a debt- cutting plan that backers say will allow the one-time hub of the U.S. auto industry to exit its record $18 billion municipal bankruptcy and rebuild after decades of population decline and industrial decay.

The fate of Detroits watershed settlement with Syncora Guarantee Inc. may hinge on whether the bond insurer can win concessions from other creditors, including Bank of America Corp. and retired city workers.

The fate of Detroits watershed settlement with Syncora Guarantee Inc. may hinge on whether the bond insurer can win concessions from other creditors, including Bank of America Corp. and retired city workers.

Detroits proposal to exit its record municipal bankruptcy by paying retirees more than bond investors will cause serious mayhem, an attorney for the plans opponents told a judge.

Detroits proposal to exit its record municipal bankruptcy by paying retirees more than bond investors will cause serious mayhem, an attorney for the plans opponents told a judge.

An $800 million settlement underpinning Detroits plan to exit from its record municipal bankruptcy was brokered by biased mediators and should be thrown out, bond insurer Syncora Guarantee Inc. told a federal judge.

A bond insurer wants the chance to fight Detroits effort to cancel $1.4 billion in pension debt, while the city is asking a judge to take a bus tour of its blighted areas before ruling on its $18 billion bankruptcy plan.

Syncora Guarantee Inc., the bond insurer fighting Detroits debt-cutting plans, said it may cancel insurance it wrote for interest-rate swaps that the city is seeking to terminate with an $85 million settlement.