Latest news with #Lundh
Mint
25-06-2025
- Business
- Mint
Small City in Washington State Files Rare Bankruptcy Over Developer Dispute
(Bloomberg) -- A small city in Washington State filed a rare municipal bankruptcy after failing to reach an agreement with a developer over a $26 million court judgment. Cle Elum, a city of 2,200 about 80 miles east of Seattle, said it couldn't afford to pay the debt to developer City Heights Holdings LLC, and was insolvent. While there have been some high profile municipal Chapter 9 filings — like Detroit and Orange County, California — they are relatively unusual and the last local government to go bankrupt was Chester, Pennsylvania in November of 2022. Last year, an arbitrator ruled in favor of CHH in a long-running dispute with Cle Elum over a housing development. The developer accused the city of breaking an agreement for a planned community of about 960 homes. Cle Elum's Mayor Matthew Lundh wrote in a June 24 court filing that the city offered a payment plan to CHH, but the developer refused to counter. Three mediation sessions with a bankruptcy lawyer proved fruitless, he said. 'The city believes it has made its best offer given its limited resources and unwillingness to burden the city in a way that will require curtailing city services or raising taxes to a level that will drive residents and businesses out of the city,' Lundh wrote. Cle Elum has a budget of $4.5 million and about $4 million in long term bond debt as of Dec. 31, 2023, according to a financial statement. Cle Elum's bankruptcy filing reported assets and liabilities between $10 million and $50 million. As in any municipal bankruptcy, the court will have to determine whether the city is, in fact, insolvent. If it is, it will then enter negotiations to adjust its debt. A 2020 report from the Pew Charitable Trust found that 31 general purpose local governments had filed for bankruptcy since 2001. The US has almost 39,000 cities, towns, counties and villages. Cle Elum, which means 'swift water' in the language of the local Kittitas tribe, is on the Yakima River in the Cascade Mountains. The case is In re: City of Cle Elum number 25-01128, US Bankruptcy Court, Eastern District of Washington. More stories like this are available on
Wales Online
23-04-2025
- Sport
- Wales Online
Euro boss outlines exactly what has to happen for him to take Swansea City job
Euro boss outlines exactly what has to happen for him to take Swansea City job The Swedish boss has been tipped as a possible contender to take over at Swansea City Kim Hellberg is reportedly in the frame to take over at Swansea City (Image: YouTube ) Kim Hellberg has suggested he would be open to taking the top job at Swansea City - but only if the Swans can strike an agreement with current club Hammarby. Reports tipping Hellberg as a possible successor to Luke Williams emerged last week, with the Swans still weighing up their options before the end of the season. Interim boss Alan Sheehan has stepped into the role in the wake of Williams' departure, and is a contender to take the position himself after a strong run of recent form. However, as things stand, there hasn't yet been a definitive decision over the club's next move, although sources in Sweden have already played down the prospect of Hellberg leaving his current role. Sign up to our Swansea City newsletter here. The 37-year-old joined Hammarby back in 2024, and has overseen a strong start to the Allsvenskan season, with his side sitting second in the table, one point behind leaders AIK. Hellberg's contract runs until 2026, and he says he intends to honour that deal, adding that any departure would depend on a club coming to an agreement with this current employers. Article continues below Quizzed on his future during an appearance on Fotboll Skanalen's podcast, Lundh, he said: 'I am such a person basically. The club has to first accept a bid or accept the financial compensation offered. Either that it's in a contract from the beginning [clause] and if not, they need to negotiate it. 'That is number one. I don't ever want to be a person who fights my way out. I always want to respect the contracts I have signed.' However, should the terms be right, Hellberg has suggested he would potentially be interested in the role. 'Then, for all players and coaches, there's always a holistic perspective that has to be assessed in terms of whether you get the opportunity to do it,' Hellberg explained. 'It's a very tough industry. I have a family, just like everyone else, to think about. How many chances will you get? These are things you should evaluate if you get the opportunity to do it.' Appointing Hellberg might be seen as something of a gamble in some quarters, although Swansea have had success in the Swedish market before, having brought Graham Potter over from Ostersunds in 2018. There was also some interest in current Aberdeen boss Jimmy Thelin in the wake of Michael Duff's sacking back in 2023, before the club eventually opted for Williams. Current interim Sheehan filled in during that managerial search, and has done so again, overseeing a remarkable turnaround that has brought Swansea to within six points of the play-offs. Sign up to the Swansea City WhatsApp service to get breaking news and top stories sent to your phone A run of five-straight wins, and a tally of 23 points from 11 games, has pushed the Irishman's case, with the vocal support in the away end at Queens Park Rangers on Monday indicating he's now a popular choice with supporters too. "At the end I am sure I will have a conversation with the owners and see where we are at," Sheehan said after the win at Loftus Road. "I think it's got to be a mutual decision and [we will] see if we are all aligned. I think what we have done obviously is quite exceptional in the Championship. Article continues below "I think suddenly what wasn't going to be a good season… now I think hopefully there's a bit of light at the end of the tunnel."
