The LA Times is reporting that the City of Detroit’s bankruptcy lawyers have proposed a bankruptcy plan seeking to reduce current health benefits of pensioners and future pensions of current city workers. This is despite the supposed early reports that Detroit’s lawyers were seeking only small cuts if any to pensions. Bankruptcy lawyers for the […]

Bankruptcy lawyers for both the City of Detroit and its creditors can breathe a sigh of relief as foundations have announced $330 million to save Detroit’s assets. The mediator in Detroit’s federal bankruptcy case announced this morning that local and national foundations have pledged $330 million toward an effort to shore up Detroit’s ailing pensions […]

Bankruptcy lawyers for both the City of Detroit and its creditors will have to make quick work as bankruptcy Judge Steven Rhodes has ordered that his ruling regarding Detroit’s eligibility may be immediately appealed. The Judge has yet to decide on whether or not to recommend a fast track for the U.S. 6th Circuit Court […]

The New York Times published an article this Sunday regarding lawyer Kevyn Orr, the City of Detroit’s Emergency Manager, that is now leading the city through bankruptcy. The article discusses Mr. Orr’s personal and professional history. Mr. Orr worked as a bankruptcy lawyer on Chrysler’s Chapter 11 filing in 2009. The article also discusses Mr. […]