My hometown is in the news for being the biggest municipality (so far) to file bankruptcy would happen, no other choice is out there.. I thought this
The Detroit bankruptcy is not a surprise. Am I happy about it? No, but it is part of the solution. Detroit filing bankruptcy is not the problem.
Just like I tell my clients, who uniformly tell me they do not want to file bankruptcy: who does? Nobody gets their diploma and says their dream is to be in a bankruptcy lawyer’s office in ten or twenty years.
The filing was precipitated by two of the pension boards suing to prevent the bankruptcy filing. I have no idea how they thought they could do that. But, they did not succeed.
Although their is local co-counsel, the attorney address for the filing lawyer is in Cleveland.
The judge has not been selected yet; the selection process is described in this excerpt from the Eastern District of MichiganDistrict Court’s press release: