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:
It’s 9 a.m. exactly and Rhodes is on the bench. We’re underway in Day 7 of the Detroit bankruptcy trial.
— Joseph Lichterman (@ylichterman) November 5, 2013
Jones Day, the city’s bankruptcy counsel, has its A Team in court today. Heather Lennox and David Heiman at the table.
— Chad Livengood (@ChadLivengood) November 5, 2013
First up: The city wants to delay a Friday hearing over the retiree committee’s attempt to block Kevyn Orr’s retiree health care cuts.
— Nathan Bomey (@NathanBomey) November 5, 2013
Detroit will extend current health coverage for non-medicare retirees until 1/31 bc of Obamacare website glitches