bankruptcy

Federal Judge Approves Detroit Bankruptcy Plan
A federal judge today approved a plan to end Detroit's Chapter 9 bankruptcy. According to the Detroit Free Press, Judge Steven Rhodes ruled that Detroit's comprehensive restructuring plan is fair and feasible and allows for the city to slash more than $7 billion in unsecured liabilities an…
Gov. Snyder Signs Detroit ‘Grand Bargain’ Legislation
On Friday morning, Governor Rick Snyder signed legislation into law that creates the state's contribution to Detroit's "Grand Bargain" settlement. In doing so, the governor said the historic, bipartisan legislation shows all Michigan stands together in Detroit's revi…
Judge Rules Detroit Eligible for Chapter 9 Bankruptcy
The City of Detroit has been ruled eligible for Chapter 9 bankruptcy today, making it the largest U.S. city ever to become so.
In a ruling from U.S. Bankruptcy Judge Steven Rhodes, it was declared that the city met the specific legal criteria required to receive protection from creditors...
AG Schuette Joins Detroit Bankruptcy Case to Defend Pensioners
On Monday, Michigan Attorney General  Bill Schuette filed a formal appearance with U.S. Bankruptcy Court of behalf of Southeast Michigan pensioners who may be at risk of losing their benefits.
In a statement, Schuette said "hardworking people, like cops and firefighters who put their own lives o…

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