On December 5, 2013, Judge Steven Rhodes of the US Bankruptcy Court for the Eastern District of Michigan held that the city of Detroit had satisfied the five expressly delineated eligibility requirements for filing under Chapter 9 of the US Bankruptcy Code1 and so could proceed with its bankruptcy case.
USA, Michigan, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Sixth Circuit, US District Court for Eastern District of Michigan
In previous issues of TransAtlantic, we reported that the UK Pensions Regulator had issued contribution notices (CNs) and financial support directions (FSDs) against insolvent companies in the Nortel and Lehman Brothers groups. Click here for the June story on Nortel (see page 5); click here for the November story on Lehman (see page 7).
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Nabarro LLP, Unsecured debt, Debt, Liquidation, The Pensions Regulator (UK), Lehman Brothers, Pensions Act 2004 (UK), High Court of Justice (England & Wales)