Bankruptcy lawyers for both the City of Detroit and its creditors can breathe a sigh of relief as foundations have announced $330 million to save Detroit’s assets. The mediator in Detroit’s federal bankruptcy case announced this morning that local and national foundations have pledged $330 million toward an effort to shore up Detroit’s ailing pensions […]
Archives for January 2014
Bankruptcy Court Reviews Detroit Proposal to Pay Creditors
Judge Steven Rhodes of the Eastern District of Michigan Bankruptcy Court, Detroit Division, is reviewing the proposal to pay off the City of Detroit’s bankruptcy Creditors. The plan was submitted by the city’s bankruptcy lawyers. The Bankruptcy Court in Detroit was closed on Monday, January 6th, and Tuesday, January 7th. The court is set to […]
