Judge: Detroit Bankruptcy To Proceed; City's Health At Risk

Key decision weeks away in Detroit bankruptcy case

In short, Rhodes gave the emergency manager and the state what it wanted: The pending lawsuits in Ingham County won't stop the bankruptcy from moving forward. "It's an important step to know that now we can start to litigate this issue so we can start to move forward," said Bill Nowling, Orr's spokesman. "That's not going to happen for a couple of months yet in court, but this is an important step that we bring everything in one court and increase the efficiency of the process." However, Rhodes spent an unusual amount of time making it clear that all of the objections that creditors have are yet to http://attorney-in-palm-desert.com/more-information/bankruptcy/ be decided and still can be argued in his court. "The court is making no ruling whatsoever on whether the city is eligible to be a debtor under Chapter 9" or on whether Snyder was right to file for bankruptcy given Michigan's constitutional protections for pension benefits, Rhodes said. Unions and Detroit's pension funds latched onto those promises and also said they would consider appealing his ruling. "All options are on the table right now," said Michael Artz, in-house counsel for AFSCME. "Nothing the judge said today erases the fact that Gov.
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Foreclosure on Property After Bankruptcy?

BUT HOPEFULLY IT'S GOING TO BE TODAY. WE ALSO DO NOW HAVE A DAY AND TIME TO THAT GOVERNOR SNYDER WILL TAKE THE STAND. HE IS SCHEDULED TO TESTIFY ON MONDAY AFTERNOON FROM 1:00 P.M. AND BE ON THE STAND UNTIL 5:00 P.M. SO HE ONLY HAS TO APPEAR IN COURT JUST THAT ONE TIME. RIGHT NOW WE ARE HEARING FROM A FINANCIAL ANALYST WHO IS BEING CROSS-EXAMINED BY AN ATTORNEY. HE HAS BEEN WITH THE CITY NEARLY TWO YEARS NOW AND WATCHED THE CITYS A FINANCIAL CONDITION BUT HAS LESS RESPONSIBILITY SINCE ORR WAS FIRED. AND HE WAS ASKED ABOUT BUCKFIRE WHO WAS BROUGHT INTO THE CITY.
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Decision on whether Detroit can stay in bankruptcy court not likely before mid-November

Can they sell the house when they haven't officially taken it over? And will that show as a new public record on my credit report versus the 2008 discharge date? Also, I applied for a mortgage -- but because this house is still in my name, I was told after the bank foreclosed I would have to wait up to three years before I can get a mortgage. So I'll have to wait seven years total because the bank waited four years to foreclose. -- Jeff A: Dear Jeff, This is a reasonable question, but my answer will just provide more bad news. Most people don't understand the foreclosure process and what the bank must do in order to take back ownership of the property.
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Judge Steven Rhodes has set a Nov. 13 deadline for lawyers to file briefs on some key issues from a trial that began Wednesday. That means an immediate decision when the trial ends, possibly next week, is unlikely. Detroit is trying to show it's broke but also held good-faith negotiations with some creditors before filing for bankruptcy in July. Those are important requirements for the city to be declared eligible to reorganize in bankruptcy court. Unions and pensions fund say Detroit emergency manager Kevyn Orr and his team wanted bankruptcy, not negotiations.
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