Expert says Bond Markets Leery After Detroit Bankruptcy
An expert says Detroit’s bankruptcy has made some bond lenders leery of loaning funds to municipalities.
Detroit’s bankruptcy casts a long shadow over the Metro region. But what has it meant to the rest of the nation?
One expert who’s analyzed the case says Detroit’s bankruptcy was so unique that did not set any legal precedents.
But Law Professor Melissa Jacoby, a bankruptcy expert with the University of North Carolina, tells WDET’s Quinn Klinefelter Detroit’s journey through Chapter 9 protection did change views on how active a judge can be in such cases.
