Detroit bankruptcy

12:30 pm
Mon December 16, 2013

Detroit bankruptcy judge allows appeal of eligibility and pension rulings

Lead in text: 
Judge Stephen Rhodes did not act on request o fast-track appeals
U.S. Bankruptcy Judge Steven Rhodes today allowed appeals of two of his critical rulings — finding Detroit eligible for bankruptcy and its pension systems subject to cuts to retirees — to proceed to the U.S. 6th Circuit Court of Appeals.
9:29 pm
Wed December 4, 2013

Rating agency doesn't expect flood of municipal bankruptcies

Lead in text: 
Fitch says Detroit's problems are unique
Washington A major ratings agency said Wednesday it doesn't believe a judge's decision to declare Detroit pensions a target for cuts in bankruptcy restructuring will open the floodgates to more Chapter 9 filings in Michigan.
8:18 pm
Tue December 3, 2013

Unions, retirees plan for appeal of Detroit bankruptcy ruling

Lead in text: 
Bankruptcy judge Steven Rhodes ruled Tuesday that Detroit's bankruptcy process can proceed
While activists who fear cuts to retiree pensions protested outside the courthouse, U.S. Bankruptcy Judge Steven Rhodes on Tuesday found Detroit eligible for bankruptcy and gave the city the go-ahead to pursue adjustments to retirement benefits as part of its restructuring plan, despite pensions being explicitly protected by the state constitution.
1:15 pm
Tue December 3, 2013

Judge rules Detroit eligible for bankruptcy

Lead in text: 
Ruling could clear way for cuts in pensions
The city of Detroit today officially became the largest municipality in U.S. history to enter Chapter 9 bankruptcy after U.S. Bankruptcy Judge Steven Rhodes declared it met the specific legal criteria required to receive protection from its creditors.
Legacy costs
11:51 am
Tue December 3, 2013

WestSouthwest: Bridge Magazine looks at "Michigan's Broken Legacy"

Portage is one of the few cities in the state with no unfunded retiree pension or health care liabilities - file photo
Credit WMUK

Unfunded debt to pay for pensions and retiree health care costs is one of the major contributors to Detroit's bankruptcy filing. Other cities in Michigan could face similar problems. 

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