Banking Latest News: Detroit Bankruptcy Case Judge Proposes Mediator for Toughest Disputes

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Banking Latest News: Detroit Bankruptcy Case Judge Proposes Mediator for Toughest Disputes

Banking Latest News: Detroit Bankruptcy Case Judge Proposes Mediator for Toughest Disputes
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Banking Latest News: Detroit Bankruptcy Case Judge Proposes Mediator for Toughest Disputes

Wochit 0:57 mins

Steven Rhodes, the bankruptcy judge overseeing Detroit's historic bankruptcy filing, has proposed appointing a federal judge as mediator, to hash out the most difficult disputes as the city struggles to resolve more than $18 billion in bond and pension obligations. Mark McCombe, the former head of HSBC's Hong Kong operations, has emerged as the external frontrunner for the top job at Royal Bank of Scotland. The Bank of Cyprus could be split in two. Apart from struggling to meet the terms of its ?10bn European Union-led bailout, Cyprus has long complained that the rescue's onerous conditions have hurt its banks and, by extension, its economy.

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