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City Of Detroit Files For Bankruptcy

The city of Detroit filed for the largest bankruptcy in U.S. History late Thursday after plans to restructure the city's debt and obligations with investors failed. Ref. USAToday

Bankruptcy Files Detroit City

An Ingham County judge says Thursday's historic Detroit bankruptcy filing violates the Michigan Constitution and state law and must be withdrawn, The Detroit Free Press reports. But Attorney General Bill Schuette said he will appeal Circuit Judge Rosemarie Aquilina's Friday rulings and seek emergency consideration by the Michigan Court of Appeals. Ref. USAToday

City Of Detroit Files For Bankruptcy History & Civil Business Politics

Federal judge freezes lawsuits attempting to derail Detroit bankruptcy

Facing $18 billion in debts, the city became the largest municipality in U.S. History to file for Chapter 9 bankruptcy last week. Ref. USAToday

Bankruptcy Files Detroit City

Detroit is eligible for bankruptcy

Judge Steven Rhodes rules that Detroit's Chapter 9 bankruptcy filing, the largest public bankruptcy in U.S. History, can proceed. Rhodes also rules pensions can legally be cut in bankruptcy, but essentially said that he wouldn't approve pension cuts unless the entire plan of adjustment is fair and equitable. Ref. USAToday

Bankruptcy Files Detroit City

Detroit bankruptcy judge blocks $165 million payment to banks:

The judge in the Detroit bankruptcy case struck down a controversial proposed settlement in which the city would have paid two big banks $165 million. Ref. Source 7