Detroit, Michigan – U.S. Bankruptcy Court Judge Steven Rhodes will soon have to make a decision on the City of Detroit’s eligibility to stay in Chapter 9 bankruptcy. He heard from City residents opposing the bankruptcy today. Reporters at the hearing noted that most objections came in one of two categories. The first opposed the […]
Detroit Bankruptcy News: Creditors Launch Bankrutpcy Case Talks
Hopefully for the City of Detroit, this process will speed up: Detroit — The city and dozens of creditors launched negotiations Tuesday in hopes of striking deals that could speed the Detroit bankruptcy case. Emergency Manager Kevyn Orr and about 90 lawyers representing city pension funds, unions, retirees, the state and bondholders attended the first […]
Detroit Rebounding Despite Bankruptcy Says Christian Science Monitor
The Christian Science Monitor has an interesting piece on Detroit’s revival during the city government’s bankruptcy. The national coverage of Detroit’s recent bankruptcy filing reminds me of 1967, when rebellion erupted in the city after police raided an illegal after-hours bar. It was one of the worst of the riots that roiled the country during […]
Detroit Bankruptcy News: Creditors Seek to Lengthen Bankruptcy Court Deadlines
The City of Detroit’s creditors have filed papers for bankruptcy Judge Steven Rhodes to reconsider his time line for the City’s bankruptcy. Detroit’s largest creditors are asking U.S. Bankruptcy Judge Steven Rhodes to reconsider his ambitious and expedited process for determining the city’s eligibility for bankruptcy protection. In an attempt to speed along the largest […]
Detroit Bankruptcy News: Governor Consents to Deposition in Detroit Bankruptcy
Michigan’s Governor has agreed to be deposed in the City of Detroit’s bankruptcy. Lawyers for the state agreed to allow Gov. Rick Snyder, state Treasurer Andy Dillon and other state officials to be deposed by lawyers for creditors, a deal the federal judge overseeing the case said appeared to be a strong resolution to a […]
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