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Michigan Bankruptcy News Feed

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 …

Detroit Bankruptcy News: Michigan Attorney General Defends Detroit Bankruptcy

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 …