The Michigan Attorney General Bill Schuette is making plans to defend against any attempted bankruptcy liquidation of Detroit Institute of Art collection. Michigan Attorney General Bill Schuette says he’s prepared to defend the Detroit Institute of Arts collection in federal bankruptcy court. Schuette recently released an opinion that the artwork cannot be sold to satisfy […]
Detroit Bankruptcy News: City of Detroit Plans to File Plan to Restructure by Year End
NBC News is reporting that the City of Detroit plans on filing its restructuring plan by the end of 2013. This puts the City’s time frame ahead of the date previously set by Judge Steven Rhodes of the U.S. Bankruptcy Court for the Easter District of Michigan, Detroit Division. That timeline is more ambitious in […]
Detroit Bankruptcy News: Chapter 9 Bankruptcy of Addison Community Hospital May Show Form of Detroit’s Bankruptcy Filing
An interesting post from Tom Walsh at the Free Press discusses a prior Chapter 9 bankruptcy filing involving U.S. Bankruptcy Judge Steven Rhodes, of the Eastern District of Michigan, Detroit Division. Judge Rhodes is currently the presiding judge in the City of Detroit’s Chapter 9 Filing. Tom Walsh writes: Former U.S. Bankruptcy Judge Roy Reynolds […]
Detroit Bankruptcy News: Michigan AG to Make Appearance in Detroit Bankruptcy
The Michigan Attorney General Bill Schuette stated that he will file an appearance in Bankruptcy Court on behalf of pensioners in the City of Detroit’s bankruptcy case. The Attorney General will argue that the Michigan Constitution does not allow adjustment of City pensions. “Michigan’s constitution, Article 9, Section 24, is crystal clear in stating that […]
Bankruptcy Court Rules in Favor of Exempting Inherited IRA
On June 28th, Ardelean & Dunne argued in front of the Bankruptcy Court for the Eastern District of Michigan, Detroit Division, on the issue of exemptions (protection from liquidation under the bankruptcy code) claimed to protect an Individual Retirement Account that was inherited from the bankruptcy filer’s father. The bankruptcy Trustee brought an action forth […]
