Detroit’s Second Bankrupcty Hearing


On Friday, Judge Steven Rhodes will attempt to establish an aggressive time frame of hearings and deadlines for Detroit Bankruptcy case. Some other items on Judge Rhodes agenda include:

• The status of Detroit’s negotiations with creditors.

• Detroit’s request for the approval of an agreement that would allow the city to capture a larger portion of casino tax revenue without placing one-third in a reserve account to protect its insurer.

• The city’s request for a committee to represent retirees.

• The possible appointment of a mediator to help speed up negotiations between the city and creditors.

• A request for a fee examiner to monitor the money Detroit is paying its lawyers and financial advisers.

Stay tuned to Michigan for further updates as this story continues to develop.

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