detroit bankruptcy filing
When a federal bankruptcy judge ruled that municipal pensions are vulnerable under federal bankruptcy law, no one was surprised. Little about life in 21st-century America prepares anyone to expect a judge to stand up for public pensions.
The story needs to be a whole one, one not just of bankruptcy, but of hope, revitalization, and inspiration. Detroit is as multidimensional as we Detroiters are, and to pigeonhole the City of Detroit as a bankrupt municipality is wrong, disrespectful, and lazy.
On Tuesday, U.S. Judge Steven Rhodes officially declared Detroit bankrupt. Granting the largest city in American history
So ruled the judge, paving the way for the largest municipal bankruptcy in our nation's history. Detroit's liabilities are estimated at $18 billion with a 'b.' The next largest city bankruptcy was San Bernardino, CA, in 2012 with a debt level of $46 million...with an 'm.'
U.S. Bankruptcy Judge Steven Rhodes ruled Tuesday that Detroit is eligible for Chapter 9 bankruptcy protection, allowing
The power of creative classes has long been recognized as a force for good in the life of cities, both for the beauty they create as well as for the magnetic pull they exert, drawing followers to precincts where few before them dared go.
"It's hard to say that we won't negotiate in good faith when we put a proposal on the table and instead of coming back with
Rhodes decision halts a Friday ruling from Ingham Circuit Court Judge Rosemary Aquilina that declared the bankruptcy filing
Detroit's historic bankruptcy filing is "unconstitutional" and must be withdrawn, according to rulings filed Friday afternoon.
Some have suggested that the fight over pension obligations in Stockton could go all the way to the Supreme Court. Until