Tuesday, July 23, 2013

Reuters: Bankruptcy News: Michigan court halts challenges to Detroit bankruptcy filing

Reuters: Bankruptcy News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com 
Michigan court halts challenges to Detroit bankruptcy filing
Jul 23rd 2013, 19:19

DETROIT, July 23 | Tue Jul 23, 2013 3:19pm EDT

DETROIT, July 23 (Reuters) - A Michigan Appeals Court panel said on Tuesday it halted three lawsuits seeking to derail Detroit's historic municipal bankruptcy filing.

The panel acted after Michigan Attorney General Bill Schuette asked the appeals court to quickly overturn the lower court rulings to halt the filing.

Detroit city workers, retirees and pension funds filed lawsuits in state court, concerned that the July 18 Chapter 9 bankruptcy filing by Detroit's state-appointed emergency manager will lead to retirement benefit cuts.

A state judge in Michigan's capital city of Lansing on Friday issued a declaratory judgment ordering Kevyn Orr, Detroit's emergency manager, to withdraw the bankruptcy petition on state constitutional grounds.

You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

 
Great HTML Templates from easytemplates.com.