Thursday was looked at as a land mark day in the United States Bankruptcy Court for the Eastern District of Michigan. Not only is the unprecedented City Bankruptcy taking place, but the Judge is allowing opponents of the filing state their case candidly as ordinary citizens. This is not business as usual in the Bankruptcy […]
Electric Car Charger Manufacturer Files for Bankruptcy
Detroit, Michigan Auto Manufacturer General Motors just took a hit on its Chevy Volt. The manufacturer of charging stations for the car has filed for bankruptcy. Most of the debt accumulated were loans from the U.S. Department of Energy, totaling nearly $100 million in grants. This sounds a death knell for the contemporary electric car. […]
Detroit Bankruptcy News: Detroit Residents Voice Opinion on Bankruptcy
Detroit, Michigan – U.S. Bankruptcy Court Judge Steven Rhodes will soon have to make a decision on the City of Detroit’s eligibility to stay in Chapter 9 bankruptcy. He heard from City residents opposing the bankruptcy today. Reporters at the hearing noted that most objections came in one of two categories. The first opposed the […]
Detroit Bankruptcy News: Creditors Launch Bankrutpcy Case Talks
Hopefully for the City of Detroit, this process will speed up: Detroit — The city and dozens of creditors launched negotiations Tuesday in hopes of striking deals that could speed the Detroit bankruptcy case. Emergency Manager Kevyn Orr and about 90 lawyers representing city pension funds, unions, retirees, the state and bondholders attended the first […]
Detroit Bankruptcy News: Creditors Seek to Lengthen Bankruptcy Court Deadlines
The City of Detroit’s creditors have filed papers for bankruptcy Judge Steven Rhodes to reconsider his time line for the City’s bankruptcy. Detroit’s largest creditors are asking U.S. Bankruptcy Judge Steven Rhodes to reconsider his ambitious and expedited process for determining the city’s eligibility for bankruptcy protection. In an attempt to speed along the largest […]
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