A story from Reuters today stating that a mediator has been appointed in the City of Detroit’s bankruptcy. DETROIT (Reuters) – The judge overseeing Detroit’s bankruptcy case named a federal judge, Gerald Rosen, as the judicial mediator in the city’s Chapter 9 proceedings, according to a court filing on Tuesday. Rosen would have a chance […]

Timesunion.com published an article discussing the chances of bankruptcy in the State of New York after Detroit’s recent bankruptcy. In the past, New York responded by creating what are known as control boards. I know. In my first term as state assemblyman, I wrote the control board law for Yonkers. It did what control boards […]

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 […]

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 […]