The Michigan Attorney General has filed a brief in the City of Detroit’s Chapter 9 bankruptcy arguing in favor of Detroit’s eligibility under the bankruptcy code. This is the newest development in a battle in the press between the Michigan Governor’s office and the Michigan Attorney General’s office. Earlier this summer, the Attorney General had […]
Michigan Municipalities Face Difficulties in Bond Market After Detroit’s Bankruptcy Filing
Michigan municipalities are facing difficulties in bond markets since the City of Detroit filed its Chapter 9 bankruptcy, reports MiBiz. For years, municipal bonds have been a shelter for investors that thought them to be safe bets. Unfortunately for the bond holders, that is not always the case, as seen with the City of Detroit. […]
Detroit Bankruptcy News: Unions Motion for Michigan Governor to be Deposed inDetroit Bankruptcy, State Files Response Contesting Motion
City of Detroit worker and retiree unions have filed a motion in the Bankruptcy Court for the Eastern District of Michigan seeking to have Michigan Governor Rick Snyder deposed in the City of Detroit’s Chapter 9 bankruptcy filing. The State of Michigan has filed a response to the motion, seeking the bankruptcy court to rule […]
Detroit Bankruptcy News: Govenor Moves Forward with Stadium as City in Bankruptcy
Bloomberg has a story today about the new Detroit Red Wings stadium. As the City of Detroit moves through bankruptcy, City and State leaders plan to push forward a plan that allocates public funds to subsidize hockey in the Metropolitan Detroit area. At the 1997 groundbreaking for a 40,000-seat ballpark for Major League Baseball’s Detroit […]
Detroit Bankruptcy News: Detroit Emergency Manager to Give Testimony in Deposition
The Detroit News is reporting that Kevyn Orr will give testimony today in a deposition for the City of Detroit’s Chapter 9 bankruptcy filing. Emergency Manager Kevyn Orr is giving a deposition Friday morning before attorneys representing a New York-based insurer of Detroit’s pension bond debt and others tied to the city’s historic Chapter 9 […]
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