The City of Detroit’s bankruptcy filing has brought news up regarding The Detroit Zoo. The assets comprising the Detroit Zoo are owned by the City of Detroit. However, the actual operations are performed by the Zoo, an non-profit entity onto its own. Revenue for the Zoo comes from gate receipts, philanthropy, and contributions from local […]

The Detroit Division of the Eastern District of Michigan Bankruptcy Court will hold hearings on the City of Detroit’s eligibility for bankruptcy protection. The key questions revolve around the City’s insolvency. Insolvency under the bankruptcy code means that the debtor’s assets exceed its liabilities. In addition, revenue and expenditures will come into play for the […]