The U.S. Bankruptcy Court of the Eastern District of Michigan has started trial in the City of Detroit’s bankruptcy filing to determine bankruptcy eligibility for Detroit. The bankruptcy judge will hear testimony on Detroit’s insolvency and make a determination based on the evidence as to whether Detroit qualifies. USA Today has an interesting article discussing […]
Bankruptcy Judge States Special Protection for Detroit Pensions Would Violate Bankruptcy Law
In a recent exchange of the Bankruptcy Court for the Eastern District of Michigan, Judge Steven Rhodes stated that allowing Detroit Pensions special protections would violate the bankruptcy code. This statement shows Judge Rhodes’ main intent during the course of the Detroit bankruptcy filing – maintain the integrity of the bankruptcy code and follow it […]
Detroit Bankruptcy Eligibility Trial Timeline
Nathan Bomey and Alisa Priddle at the Detroit Free Press have written an article regarding the timeline for the City of Detroit’s trial showing its eligibility to file bankruptcy. Detroit must prove to the bankruptcy judge that it is qualified to file the bankruptcy. Bankruptcy Judge Steven Rhodes has set six days aside to hold […]
Detroit Bankruptcy Creates Uncertainty Regarding Zoo
The City of Detroit’s bankruptcy filing has brought news up regarding The Detroit Zoo. The assets comprising the Detroit Zoo are owned by the City of Detroit. However, the actual operations are performed by the Zoo, an non-profit entity onto its own. Revenue for the Zoo comes from gate receipts, philanthropy, and contributions from local […]
U.S. Department of Justice Defends Constitutionality of Detroit Bankruptcy
The United States Department of Justice has appeared in the City of Detroit’s bankruptcy filing to defend the municipality’s right under the United States Constitution and Michigan Constitution to file for Chapter 9 relief under the bankruptcy code. The Department of Justice hit the nail on the head when it countered states rights arguments. The […]
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