Pension plan will be fully repaid, while some bond investors will receive as little as 1 percent of what they're owed.

Pension plan will be fully repaid, while some bond investors will receive as little as 1 percent of what they're owed.

Biggest LBO ever ran aground after a wave of deregulation.

Biggest LBO ever ran aground after a wave of deregulation.

Detroit requests approval for new settlement to get out of swaps contracts originally designed to protect pension fund against rising interest rates.

Detroit requests approval for new settlement to get out of swaps contracts originally designed to protect pension fund against rising interest rates.

Alabama ruling could apply to any municipal bankruptcy with debt being paid by pledged revenues such as parking fees or water and sewer charges.

Alabama ruling could apply to any municipal bankruptcy with debt being paid by pledged revenues such as parking fees or water and sewer charges.