Will Stockton get pension reform in bankruptcy?

By Cate Long
July 10, 2014

Kevyn Orr’s misinformation campaign

By Cate Long
May 30, 2014

Detroit emergency manager Kevyn Orr appeared at Michigan’s annual Mackinac Conference, the gathering place for Michigan’s political elite. Orr (@MotownEM) had some stunning things to say:

Detroit’s wildly accelerating bankruptcy process

By Cate Long
March 25, 2014

The technocratic governor of Michigan, Rick Snyder, and the emergency manager he appointed to restructure Detroit, Kevyn Orr, spoke at an event sponsored by the Manhattan Institute for Policy Research this week. Their relentless positivity contrasted with the creditor mess they had left behind in Detroit.

‘There is no lien, there is no property interest, these creditors are like all others’

By Cate Long
February 20, 2014

A showdown between bond insurers and city attorneys in Detroit’s bankruptcy highlights the level of protection that secured bondholders have in Chapter 9 bankruptcy. Detroit attorneys argued that federal bankruptcy law trumps Michigan state law and that “secured” bonds could be impaired. From Chad Livengood of the Detroit News:

Is it time to replace Detroit’s emergency manager?

By Cate Long
January 17, 2014

The market reaction to Detroit’s bankruptcy ruling

By Cate Long
December 4, 2013

Fitch Ratings managing director Amy Laskey talked to Fox Business about how Detroit is a unique story in muniland. Fitch published a research note on the bankruptcy ruling and concluded that Detroit’s ruling would not lead to a “spate” of local bankruptcies in Michigan:

Detroit bankruptcy hearing – Closing arguments

By Cate Long
November 11, 2013

Tweets from the final day in the federal trial to determine if Detroit is eligible for Chapter 9 bankruptcy protection:

Detroit bankruptcy hearing – Day 8

By Cate Long
November 7, 2013

It was the last day of testimony in Detroit’s bankruptcy eligibility hearing. Here are some tweets leading up to the closing arguments on Friday:

Detroit bankruptcy hearing – Day 7

By Cate Long
November 7, 2013

It is a real hand-to-hand fight in Detroit as creditors seek to establish that emergency manager Kevyn Orr did not conduct “good faith” negotiations prior to filing Chapter 9 bankruptcy for the city. It’s surprising that the city is not arguing that there were too many creditors to negotiate. The bankruptcy code allows a debtor to use this provision to escape conducting negotiations. Here are tweets from Tuesday:

Detroit bankruptcy hearing – Day 6

By Cate Long
November 4, 2013

The sixth day of Detroit’s bankruptcy eligibility hearing was about whether the city negotiated in good faith with creditors. Detroit’s emergency manager Kevyn Orr (@MotownEM) returned to the stand to continue his testimony. Orr was appointed emergency manager on March 14, 2013. Here is the coverage from journalists and others on Twitter: