Michigan Bankruptcy

The Detroit bankruptcy Plan is nearing its home stretch and the bankruptcy court is now intent on insuring the city follows the Plan post-bankruptcy. The bankruptcy judge overseeing the case has asked for assurances from the elected officials – Detroit’s mayor and city counsel – that they will follow the Plan to provide better services …

The City of Detroit’s bankruptcy lawyers have reached an agreement with lawyers for investment banks, who are creditors in the bankruptcy filing. The deal will save Detroit millions of dollars in the restructuring of debt. The Bankruptcy Court for the Eastern District of Michigan still has to approve the deal. Bankruptcy lawyers for both sides …