Puerto Rico is in the midst of a legal battle to save its economy through the levers of bankruptcy. Ironically, the same judge who oversaw Detroit’s Chapter 9 restructuring is now advising the Puerto Rican government in that effort. As noted by the Detroit Free Press, the essence of the island’s debt crisis is strikingly… [Continue Reading]
The Secret to Helping Detroit Businesses Succeed
It’s no secret that the city of Detroit has made considerable gains in attracting businesses to open here since its emergence from bankruptcy more than a year ago, but there is one nagging issue that will never allow the city to again flourish: failing schools. With a rash of teacher “sick-outs” over the last few… [Continue Reading]
5 Things To Know Defending Your Company Against Detroit’s Claw Back
In approximately two weeks, certain contractors, vendors and other service providers who are the target of the city of Detroit’s attempt to claw back remittances made shortly before it declared Chapter 9 Bankruptcy will face the deadline for responding to the city’s lawsuit alleging preferential treatment of payment. As discussed in our previous blog posts… [Continue Reading]
Response to City of Detroit Claims Fast Approaching
If you or your company have been named as a defendant against the City of Detroit in its attempt to recover funds alleged to have been paid within the 90 days prior to the city’s Chapter 9 Bankruptcy filing, note that time is of the essence and your rights are in jeopardy. The Bankruptcy practice… [Continue Reading]
