Michael Ardelean

Detroit Bankruptcy News: City of Detroit’s Bankruptcy is Challenged on Constitutional Grounds

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 …

Small Business Contest

This is a great contest that helps encourage new small businesses in southeast Michigan. “The third annual Hatch Detroit contest is now upon us. Launched in 2011, Hatch is a small business competition in which 10 semifinalists are juried in based on the strength of their applications (including a business plan) and how their proposed …

State Equalized Values

State Equalized Values on properties in the Metro Detroit Area are now starting to go up for the first time in years. The SEV on a home is generally the way a Trustee in a Chapter 7 Bankruptcy case determines the value of a home. Although you would think this would be good for property values in …

City of Detroit Files for Chapter 9

Well, it finally came down to it. The city of Detroit filed for bankruptcy protection under a massive amount of debt. It seems as if the emergency manager just wasn’t able to accomplish what he sought out to do. Take a minute to read the article below. The real question is how will this effect …

Low Income Heating Assistance

Gov. Snyder signs bill creating $50 million low-income heating assistance fund. “LANSING — The Michigan Public Service Commission could act as soon as its next meeting on July 11 to order electric utilities to add a $1-a-month surcharge to all electric bills to create a low-income heating assistance fund. The action can come after Gov. …

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