The Craig Fahle Show

News About Bankruptcy That You May Not Be Aware Of

July 07, 2014

Craig speaks with Next Chapter Detroit's Sandra Svoboda about the latest news on Detroit's Bankruptcy. That includes NCD's most recent columns about the Sixth Circuit Court of Appeals ordering a lower court to not delay any longer and decide within days an issue bond insurer Syncora raised before the city filed for bankruptcy nearly a year ago. Also, Syncora wants the city to use casino tax revenue to pay creditors instead of being allowed to keep it for operations, as has been ruled in earlier decisions in the Chapter 9 case.

Meanwhile, Detroit’s Chapter 9 is now the costliest municipal bankruptcy on record, more than doubling Jefferson County, Alabama's bill with the trial yet to come, reports Crain’s Detroit Business. … Detroit has been billed more than $75 million in fees and expenses from 19 professional services firms through late June.

Find more coverage of Detroit's bankruptcy and its impact on people and neighborhoods on WDET's Next Chapter Detroit blog.

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