Bankruptcy

Hopefully for the City of Detroit, this process will speed up: Detroit — The city and dozens of creditors launched negotiations Tuesday in hopes of striking deals that could speed the Detroit bankruptcy case. Emergency Manager Kevyn Orr and about 90 lawyers representing city pension funds, unions, retirees, the state and bondholders attended the first …

The City of Detroit’s creditors have filed papers for bankruptcy Judge Steven Rhodes to reconsider his time line for the City’s bankruptcy. Detroit’s largest creditors are asking U.S. Bankruptcy Judge Steven Rhodes to reconsider his ambitious and expedited process for determining the city’s eligibility for bankruptcy protection. In an attempt to speed along the largest …

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 …

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 …