The British news website The Guardian has a story regarding Detroit’s bankruptcy and the impact on pensioners. It does a good job of explaining the fear that individuals who served the City of Detroit have in losing pension income. In the coming weeks and months the bankruptcy court will have to address these issues. Bankruptcy […]
Detroit Mayor Elect Hopes to have Impact on Bankruptcy
Former lawyer and Detroit mayor elect Mike Duggan expects to have an impact on the Detroit bankruptcy. It is unknown what impact the former attorney will have on the bankruptcy. Bankruptcy attorneys that have commented on the matter believe a new mayor will have no influence on Detroit’s pending bankruptcy matter. Bankruptcy lawyers in the […]
Detroit Bankruptcy Lawyers Wrap Up Eligibility Trial
On Friday, Detroit’s bankruptcy lawyers and opposing bankruptcy attorneys finished the trial to determine bankruptcy eligibility for the City of Detroit, Michigan, in the bankruptcy court for Eastern District of Michigan. Nine bankruptcy lawyers had their time to speak in front of bankruptcy Judge Steven Rhodes on the last day of the trial. Judge Rhodes […]
City of Detroit Seeks Bankruptcy Court Approval for New Financing
The City of Detroit has asked that Eastern District of Michigan Bankruptcy Judge Steven Rhodes approve new financing for a loan to be taken out after the filing of the city’s bankruptcy case. Chapter 13 bankruptcy is a reorganization plan that pays back an individual’s creditors over a three to five year period. Much like […]
Small Business Continues Business as Usual in Michigan Despite Detroit Bankruptcy
Small businesses continue business as usual in Detroit and Southeast Michigan despite Detroit bankruptcy. Once again we see that businesses operate independent of the city government and unlike many politicians want us to believe, those small business owners are responsible for building their wealth. Case in point, we see the bankrupt City of Detroit, Michigan. […]
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