bankruptcy eligibility

A bankruptcy lawyer for the city of Detroit started closing arguments today in Detroit’s bankruptcy trial. The bankruptcy attorney must prove to the court that the bankruptcy plan, which restructures the city’s obligations, is fair for all creditors and stakeholders. The bankruptcy lawyer made a point to stress that this bankruptcy plan will leave the …

The City of Detroit’s bankruptcy lawyers are offering deals to the leading opponent of its bankruptcy filing. The deal involves riverfront property and an indefinite lease on parking garages to the bond insurer that continues to oppose Detroit’s bankruptcy filing. Under Chapter 7 and Chapter 13 bankruptcy, all creditors of the same class have to …

The City of Detroit’s CFO testified on Thursday regarding the feasibility of the Detroit Bankruptcy Plan. He also stated that he believes the plan operates as a road map to guide city officials in the future. Similarly, when an individual debtor meets with a bankruptcy attorney prior to any case being filed, the goal is …

Bankruptcy lawyers for the City of Detroit, the State of Michigan, and creditors of the city submitted a request that the Sixth circuit not proceed with appeals hearings regarding the Detroit bankruptcy. Bankruptcy lawyers for Detroit’s creditors filed appeals after the bankruptcy court ruled the city eligible to proceed through bankruptcy. After the retiree unions …