Blog

The Detroit News is reporting that Judge Steven Rhodes, the bankruptcy judge assigned to the City of Detroit’s Chapter 9 filing, has ruled that objections regarding pension obligations must be decided after a ruling is made on Detroit’s eligibility for bankruptcy protection. A federal judge on Monday delayed hearing objections to Detroit’s bankruptcy case based …

Reuters discusses the constitutionality of the City of Detroit’s bankruptcy filing. Public labor unions took aim at Detroit’s historic bankruptcy filing on Monday, asking a U.S. court to toss the city’s bid for protection from its creditors because it is constitutionally flawed on both the state and federal levels. A union that represents public-sector workers …

Josh Linkner of Forbes has a new post regarding the lessons to take away from the City of Detroit’s bankruptcy filing. 1. Take painful action early, before problems get too big. As Ross Perot once explained, “If you see a snake, just kill it. Don’t appoint a committee on snakes.” Detroit’s negligence in dealing with …

Stephen J. Lubben of The New York Times addresses the City of Detroit’s eligibility in a recent blog post. The long, painful process for Detroit’s bankruptcy is under way. Among the first questions to be answered is whether Detroit is even eligible to do so. Unlike corporations that file for Chapter 11 bankruptcy protection, municipalities …