July 18, 2015 was the second anniversary of the City of Detroit's filing for bankruptcy. This action was taken by the City's Emergency Manager Kevyn Orr, with the support of Michigan's Governor Rick Snyder. But, with the exception of Detroit's corporate leadership, it was fiercely resisted by virtually all other interested parties, including political leaders, public employees, holders of the City's debt obligations as well as virtually all commentators in the media.

The availability of a debtor’s insurance policy can have a significant impact on its chapter 11 case. Indeed, in certain chapter 11 cases insurance proceeds may be a creditor’s only opportunity to potentially receive a recovery on meritorious claims. Relying on insurance proceeds, however, is not infallible. An insurance policy may, for example, contain a coverage exclusion that would preclude a claim. For instance, nearly all directors’ and officers’ liability insurance policies traditionally include an insured v.

The recent decision from the United States District Court for the Eastern District of Michigan, ECP Commercial II LLC v. Town Center Flats, LLC (In re Town Center Flats, LLC), gives us at the Weil Bankruptcy Blog a reason to revisit the issue of “absolute” assignments of rent.

“[T]hey would sell their possessions and goods and distribute the proceeds to all…” Acts 2:45