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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Bankruptcy Fees Announced Paid By The City of Detroit

As the curtain opens slowly Detroit’s bankruptcy fees are revealed… City officials disclosed Dec. 30 that Detroit paid out approximately $170.2 million in bankruptcy fees and expenses to lawyers and restructuring consultants during its landmark bankruptcy case. When the state’s reimbursement of $5.29 million is considered, the total fees paid from the city’s general fund […]

Author: Joel R. Glucksman

January 15, 2015

The City Of Detroit Emerges From Bankruptcy

The city of Detroit emerged from bankruptcy on Dec. 10, closing a painful chapter in its history and opening the door to a potentially brighter future. Detroit marked the largest municipal bankruptcy in American history, according to The New York Times. Its historic bankruptcy filing lasted a total of 17 months – relatively short compared […]

Author: Joel R. Glucksman

December 18, 2014

Syncora Could Face Sanctions in Detroit Bankruptcy

Syncora Holdings, one of the holdout creditors in the Detroit bankruptcy filing, could face sanctions for its conduct in the case. Judge Steven Rhodes must decide this week whether he will sanction the company or allow its objection to the so-called “grand bargain,” which is crucial to the city’s restructuring plan, according to WXYZ. Syncora […]

Author: Joel R. Glucksman

September 18, 2014

Detroit Bankruptcy

Panel of Federal Judges Halts Appeals In Detroit Bankruptcy Case

A panel of federal U.S. judges halted all appeals in the Detroit Bankruptcy Case on Aug. 1 at the request of a number of interested parties, according to the Detroit Free Press. Lawyers for Detroit, the state of Michigan, as well as state Attorney General Bill Schuette, representation for unions, pensioners and retirees wrote to the court, asking it […]

Author: Joel R. Glucksman

August 21, 2014

Pensions Could Be Saved in Detroit Bankruptcy

In July 2013, the city of Detroit filed the largest case under Chapter 9 of the bankruptcy laws in the history of the United States. The case didn’t sit well with everyone. The administrators of the city’s pension funds have been steadfastly opposed to the bankruptcy, asserting that it put at risk the money of hard-working employees. […]

Author: Joel R. Glucksman

January 24, 2014

Detroit's Bankruptcy Eligibility Trial Kicks Off

The highly publicized trial that will determine Detroit’s eligibility to file the largest municipal bankruptcy in U.S. history kicked off on Oct. 23, with the expected opposition from creditors and labor unions. Representatives for the city are urging U.S. Bankruptcy Judge Steven Rhodes to approve the city’s petition to file for protection under Chapter 9 of […]

Author: Joel R. Glucksman

November 5, 2013

Detroit Bankruptcy

Judge Allows Detroit to Keep Casino Tax Revenue

Detroit will be allowed to continue accessing casino tax revenue during its bankruptcy proceedings while negotiations with creditors relating to these revenues take place, a bankruptcy court has ruled. U.S. Bankruptcy Judge Steven Rhodes authorized the struggling city to take in the casino tax revenue – which amounts to roughly $11 million each month – […]

Author: Joel R. Glucksman

October 8, 2013

Detroit Bankruptcy

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Local and state governments, as well as the federal government, are not the only ones closely watching Detroit’s municipal bankruptcy proceedings. It appears that Detroit, which recently filed the largest municipal bankruptcy in U.S. history, has also garnered the attention of global investors who are making determinations about future investments into the struggling city. China, […]

Author: Joel R. Glucksman

September 20, 2013

Judge Speeds Up Detroit's Eligibility Hearing

Legal commentators have noted that they expect the Detroit Chapter 9 bankruptcy case to be a tedious and time-consuming process. This projection has been supported by the large number of creditors filing objections seeking to prove that the city is not eligible to seek out bankruptcy protection. However, the bankruptcy judge who is overseeing the […]

Author: Joel R. Glucksman

September 10, 2013

DIA Urges Detroit to Stay Away from Art Collection

Several creditors and pension groups have teamed up to challenge the constitutionality of the Detroit bankruptcy filing. Although the Detroit Institute of Art has opted out of the objections, it released a statement discouraging the city from including its multimillion-dollar art collection in the bankruptcy proceedings. Prior to its petition for protection under Chapter 9 […]

Author: Joel R. Glucksman

September 6, 2013

Creditors File Objections to Detroit Bankruptcy

More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy of U.S. bankruptcy law. This is a development that may add significant complexity to the question of whether the struggling city will be permitted to move forward with its bankruptcy reorganization proceedings. Creditors, unions, and retiree […]

Author: Joel R. Glucksman

August 30, 2013

Detroit Businesses See Bankruptcy as Opportunity for 'Stability'

When cities file for municipal bankruptcy protection, public works projects, civil servants, and public institutions typically suffer. In the case of the most recent historic filing, many Detroit businesses see it as an opportunity to gain more traction in an economy that has been unpredictable and sluggish for the last several years. Sandy Baruah, head of the […]

Author: Joel R. Glucksman

August 1, 2013

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