The City of Detroit has asked that Eastern District of Michigan Bankruptcy Judge Steven Rhodes approve new financing for a loan to be taken out after the filing of the city’s bankruptcy case. Chapter 13 bankruptcy is a reorganization plan that pays back an individual’s creditors over a three to five year period. Much like […]
Small Business Continues Business as Usual in Michigan Despite Detroit Bankruptcy
Small businesses continue business as usual in Detroit and Southeast Michigan despite Detroit bankruptcy. Once again we see that businesses operate independent of the city government and unlike many politicians want us to believe, those small business owners are responsible for building their wealth. Case in point, we see the bankrupt City of Detroit, Michigan. […]
Duggan Elected Mayor of Detroit
Mike Duggan wins Tuesday’s Detroit Mayoral Election and for the first time in over 40 years the City of Detroit has a Caucasian Mayor. Duggan overcame several obstacles to simply be allowed on the ballot. He won 55% of the vote and in what seemed to be a tight race. The most important question I […]
Detroit Bankruptcy Overshawdows Mayoral Election
The City of Detroit, Michigan, will select its new mayor today, Nov. 5th. Former Wayne County Prosecutor, Mike Duggan will seek to beat the Wayne County Sheriff Benny Napolean. It is a case of attorney turned politician verse police officer turn politician. Both argue that they have the ability to turn Detroit’s fiscal turmoil around. […]
Detroit Bankruptcy Eligibility Trial Enters Sixth Day
The trial for bankruptcy eligibility for the City of Detroit will proceed today. The United States Bankruptcy Court for the Eastern District of Michigan will again hold hearings in the trial. The trial is a requirement in all Chapter 9 bankruptcy filings to show that the governmental entity is eligible for protection under the bankruptcy […]
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