Detroit City Council has voiced concerns over the attorney fees the City is paying in its bankruptcy. The bankruptcy attorney fees recently increased and Detroit is responsible for paying the bill no matter the results. Detroit Councilmen Saunteel Jenkins and Ken Cockrel took a tempered approach by offering that if the bankruptcy produces certain results, […]
Detroit Bankruptcy News: Bankruptcy Consultant Fees Soar
News out of the City of Detroit’s bankruptcy filing is that attorney fees are skyrocketing. U.S. Bankruptcy Judge Steven Rhodes, on whose docket the matter sits, has been known to be harsh on attorney fees for consumer bankruptcy attorneys. It will be interesting to see his take on attorneys working for a government organization. The […]
Detroit Bankruptcy News: Deposition for Governor Set for Oct. 9th
Governor Rick Snyder will testify under oath at a deposition that has been set for October 9th. The testimony will be limited to the decision making for the City of Detroit’s bankruptcy filing. The Treasurer of the State of Michigan will also testify regarding the City of Detroit’s bankruptcy filing. It will be interesting to […]
Detroit Bankruptcy News: Casino-Tax Dollars Become Issue in Bankruptcy
A fight has emerged in bankruptcy court between the City of Detroit and an insurer over casino revenues. The insurer has claimed that its debt is secured against those revenues and that as a secured creditor, it should have the right to take possession of that collateral. The City, on the other hand, is seeking […]
Detroit Bankruptcy News: IU Experts Available to Discuss Art Issues in Bankruptcy
Indiana University professors have offered their take of the Detroit bankruptcy and potential sale of art work. All three professors referenced have art backgrounds, and do not offer a legal perspective, but do provide worthwhile thoughts regarding potential liquidation of assets. BLOOMINGTON, Ind. — When the city of Detroit filed for bankruptcy this year, the […]
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