Detroit bankruptcy

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.
7:26 am
Mon October 27, 2014

Closing Arguments Monday in Detroit Bankruptcy Trial

A ruling from U.S. Bankruptcy Judge Steven Rhodes is expected next week
The city of Detroit today makes its final argument in bankruptcy court that it has a fair and practical plan to pay creditors billions less than they are owed while restoring city services to an adequate level.
6:39 am
Tue October 21, 2014

Detroit Bankruptcy Case Nears End

Closing arguments in the case are expected next Monday
DETROIT, MI -- After another major breakthrough in negotiations between the city and its creditors last week, Detroit's bankruptcy case appears to be approaching a merciful end. U.S. Bankruptcy Judge Steven Rhodes said Monday he intends to issue a ruling on whether to confirm the city's debt adjustment plan in the first week of November, about 16 months after Detroit filed for a Chapter 9 municipal restructuring
6:19 am
Fri September 26, 2014

Emergency Manager Stays on, but Power Restored to Detroit Elected Officials

Orr will remain Detroit Emergency Manager until bankruptcy process is completed
Detroit — City Council members unanimously approved a resolution Thursday that transfers power back to Detroit's elected leadership while keeping the emergency manager in place through the remainder of the city's bankruptcy.The agreement, revealed late Thursday, comes following marathon closed-door talks over Kevyn Orr's next duties that spanned about 16 hours over three days.
6:21 am
Mon September 22, 2014

Judge to Tackle Detroit Water Shutoff Issues Today

U.S. Bankruptcy Code may not allow Judge Steven Rhodes to grant a restraining order against turning off water service
Water shutoffs of customers who don't pay their bills return to center stage this morning as Detroit's bankruptcy judge holds what could be a daylong hearing on activists' request to halt the practice.