Detroit bankruptcy

6:47 pm
Mon December 22, 2014

State Gives Final Settlement to Detroit's "Grand Bargain"

Michigan Settlement Administration Authority is not expected to meet again
LANSING – Detroit's two pension funds are expected to receive the state's grand bargain bankruptcy contribution of $194.8 million on Feb. 9 after a state panel gave final approval to the payments on Monday.
6:28 am
Wed December 10, 2014

Snyder Declares Detroit's Financial Emergency Over

A hearing is scheduled for Monday to determine when Detroit will exit bankruptcy
Detroit - Gov. Rick Snyder has accepted a recommendation from Detroit's emergency manager that the city's financial crisis has ended and it should emerge from receivership. The governor, in a Tuesday letter to Kevyn Orr, said he will terminate Orr's appointment and announce during a Wednesday news conference that the financial emergency in Detroit is officially over.
7:45 am
Mon November 24, 2014

Detroit Financial Review Prepares to Oversee City Finances

Board has broad powers over city contracts, budgets and spending
The oversight board that will monitor Detroit's finances after the city officially emerges from bankruptcy has established its schedule of monthly meetings where it will help make sure the city stays on solid financial footing. The nine-member state financial review commission will meet the fourth Monday of every month from 2:30-3:30 p.m.
1:57 pm
Fri November 7, 2014

End To Detroit Bankruptcy Plan Approved By Federal Judge

The plan decreases the city’s debt by about 74 percent and allows the city to reinvest nearly $1.7 billion in public services and blight removal over the next ten years.
A federal judge today approved a plan to end Detroit's historic Chapter 9 bankruptcy, giving the Motor City an unprecedented shot at recovering from decades of economic despair and municipal mismanagement that left the city awash in debt and struggling to provide basic public services.
7:20 am
Fri November 7, 2014

Ruling Friday on Detroit Bankruptcy

Approval would allow city to exit bankruptcy within weeks
For Detroit, bankruptcy is near a remarkable conclusion. Judge Steven Rhodes will rule today on whether Detroit's government can slash more than $7 billion in unsecured liabilities and reinvest $1.4 billion over 10 years in basic services to rehabilitate the city.