The Detroit News has a new article out discussing one very desperate Creditor spending lots of money on bankruptcy lawyers to make the City of Detroit’s bankruptcy go as roughly as possible. Syncora Guarantee Inc. is that creditor and it stands to lose the most out of the Detroit bankruptcy – estimated at $360 million. […]
Former Bankruptcy Attorney and Orchestrator of Detroit Bankruptcy Expected to Stay After Term
Kevyn Orr, a former bankruptcy attorney and Detroit’s current emergency manager, is anticipated to stay on board with the city after his term as emergency manager is ended in September 2014. Both the Mayor and the City Counsel President have expressed their willingness to keep the former bankruptcy lawyer as a member of the city’s […]
Appeals Stayed in Detroit Bankruptcy Matter
Bankruptcy lawyers for the City of Detroit, the State of Michigan, and creditors of the city submitted a request that the Sixth circuit not proceed with appeals hearings regarding the Detroit bankruptcy. Bankruptcy lawyers for Detroit’s creditors filed appeals after the bankruptcy court ruled the city eligible to proceed through bankruptcy. After the retiree unions […]
Detroit Bankruptcy Taking Precautions Regarding Vote
The City of Detroit will take ballots from retirees who are affected by the city’s bankruptcy to determine whether or not the group agrees to the plan as proposed. The city’s bankruptcy lawyers are not taking any chances with the ballots, and have contracted for an outside party to tabulate the votes. Some bankruptcy claimants […]
Detroit Bankruptcy Faces Challenges from Insurance Company
Detroit’s bankruptcy lawyers are preparing for a fight in U.S. Bankruptcy Court. The insurance company for Detroit’s bond holders is seeking to stop the bankruptcy at all costs. It recently has tried to gain access to the more than 20,000 City of Detroit pensioners through a subpoena in attempts to sway their votes on the […]
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