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 […]
Detroit Pensioners Fear Benefit Reduction Due to Bankruptcy
Fox News has a poorly written and factually incorrect article that puts fear into Detroit City pensioners that Detroit’s bankruptcy will wipe their pensions down to 16 cents on the dollar. The article has its mistakes – it says the bankruptcy was ruled unconstitutional, which is misleading at best. The article does not state the […]
Detroit Pensioners Fight City’s Bankruptcy
Detroit pensioners are fighting the City’s bankruptcy attempt in order to prevent any action taken against their pension funds. Understandably distraught and fearing the loss of their livelihood, representatives for current and former City of Detroit employees have taken to oral hearings in front of bankruptcy Judge Steven Rhodes to present their case as to […]
