Detroit Michigan

Detroit Bankruptcy News: City of Detroit Plans to File Plan to Restructure by Year End

NBC News is reporting that the City of Detroit plans on filing its restructuring plan by the end of 2013. This puts the City’s time frame ahead of the date previously set by Judge Steven Rhodes of the U.S. Bankruptcy Court for the Easter District of Michigan, Detroit Division. That timeline is more ambitious in …

Detroit Bankruptcy News: Michigan AG to Make Appearance in Detroit Bankruptcy

The Michigan Attorney General Bill Schuette stated that he will file an appearance in Bankruptcy Court on behalf of pensioners in the City of Detroit’s bankruptcy case. The Attorney General will argue that the Michigan Constitution does not allow adjustment of City pensions. “Michigan’s constitution, Article 9, Section 24, is crystal clear in stating that …

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 …

Bankruptcy Court Rules in Favor of Exempting Inherited IRA

On June 28th, Ardelean & Dunne argued in front of the Bankruptcy Court for the Eastern District of Michigan, Detroit Division, on the issue of exemptions (protection from liquidation under the bankruptcy code) claimed to protect an Individual Retirement Account that was inherited from the bankruptcy filer’s father. The bankruptcy Trustee brought an action forth …

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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