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…
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...

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