City of Detroit, Michigan

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Case overview

Case Number:

2:13-bk-53846

Court:

Michigan Eastern

Nature of Suit:

Firms

Companies

Government Agencies

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May 05, 2014
Detroit Creditor Vote Greenlighted By Judge

Detroit pitched one last version of an exit plan to pull it out of bankruptcy before its creditors begin the process of voting on how the city will reduce its pension obligations and bond debt, and won the judge's approval for its disclosure statement, according to a filing in Michigan federal court on Monday.
May 02, 2014
Detroit City Retirees Agree To 4.5% Cut In Pension Benefits

The city of Detroit reached an agreement Friday with the city's largest employee association that will cut their pension benefits by 4.5 percent and potentially hasten Detroit's exit from Chapter 9 protection, according to the law firm representing the Detroit Retired City Employees Association.
April 28, 2014
Detroit, Unions Reach 5-Year Agreements In Bankruptcy Row

The bankrupt city of Detroit, along with the Coalition of Detroit Unions, which together represent more than 3,500 of the city's employees, have reached a proposed agreement on the "major aspects" of five-year collective bargaining agreements with those unions, federal mediators announced Monday.
April 22, 2014
Detroit Brings In Muni Finance Expert, Plan Adviser

An adviser who guided New York City through its 1970s financial crisis will usher Detroit on municipal finance matters, while a financial consultant who has engaged in more than 100 restructurings will evaluate the city's proposed debt adjustment plan, according to court papers filed Tuesday.
April 21, 2014
Detroit Ch. 9 Plan Confirmation Set For End Of July

Detroit's bankruptcy judge has pushed back a few key dates, with the city's final debt adjustment plan confirmation hearing set to begin July 24, according to a court order issued Monday.
April 17, 2014
Detroit Headed To Mediation Over Water Authority Deal

A Michigan bankruptcy judge on Thursday ordered the city of Detroit into mediation proceedings with three of its neighboring suburban counties in hopes of striking a deal for a regional water and sewer authority that could ease its transition out of bankruptcy.
April 15, 2014
Detroit Deal Will Cut Pension Hikes For Ex-Cops, Firefighters

The city of Detroit has reached an agreement with the organized labor group representing its retired police and firefighters that will trim annual cost-of-living increases to the retirees but spare their current pensions from any cuts, a mediator said Tuesday.
April 11, 2014
Detroit's $85M UBS, Merrill Lynch Swaps Deal Wins Approval

Detroit on Friday received court approval of its $85 million settlement with UBS AG and Bank of America Corp.'s Merrill Lynch Capital Services LLC to end a swaps agreement, an achievement that will allow the bankrupt city to begin collecting much-needed casino tax revenue.
April 10, 2014
Detroit Refuses To Pave Path Out Of Ch. 9 With $2B In Art

Detroit's emergency financial manager said Thursday that creditors can't make the city to raise up to $2 billion by selling its art masterpieces as it undergoes bankruptcy for its $18 billion in debt.
April 08, 2014
Detroit Retirees, Berkshire Hathaway Buck Bankruptcy Plan

Detroit retirees, union members, a Berkshire Hathaway Inc. unit and at least a dozen others objected to the city's plan to exit from bankruptcy, with several objections sliding in just under the April 7 deadline, according to court records on Tuesday.

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