Bankruptcy Law, Credit, Timothy Kingcade Posts

Latest News on the City of Detroit’s Historic Bankruptcy Filing

A U.S. bankruptcy judge upset public employee unions and pension funds this week protesting against Detroit’s bankruptcy petition by suspending all legal charges made in Michigan state courts. Steven Rhodes, a U.S. bankruptcy court judge, halted lawsuits filed by retirees, city workers and pension funds opposed to Detroit’s bankruptcy filing. He did the same with suits filed against Detroit’s emergency manager, Michigan’s governor and treasurer to make sure that all battles concerned with the Chapter 9 bankruptcy petition are done only through his courtroom.

Detroit Emergency Manager Spokesman, Bill Nowling said, “This action gives us one venue to settle our disputes and bring it into one court where it should be.”

Click here to read more on the city of Detroit’s historic bankruptcy filing.

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