Detroit’s Second Bankrupcty Hearing

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On Friday, Judge Steven Rhodes will attempt to establish an aggressive time frame of hearings and deadlines for Detroit Bankruptcy case. Some other items on Judge Rhodes agenda include:

• The status of Detroit’s negotiations with creditors.

• Detroit’s request for the approval of an agreement that would allow the city to capture a larger portion of casino tax revenue without placing one-third in a reserve account to protect its insurer.

• The city’s request for a committee to represent retirees.

• The possible appointment of a mediator to help speed up negotiations between the city and creditors.

• A request for a fee examiner to monitor the money Detroit is paying its lawyers and financial advisers.

Stay tuned to Michigan for further updates as this story continues to develop.

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