Kevyn Orr, the emergency manager appointed by Michigan Governor Rick Snyder to try to resolve the Detroit financial crisis, has effectively replaced the Detroit mayor, former NBA legend Dave Bing. However, it is Orr who in the upcoming weeks


Continue Reading Detroit Emergency Manager Posits Sale of Art Masterpieces as Bankruptcy Looms -Van Gogh(ing) Once, Twice, Sold?

U.S. Bankruptcy Court Judge Thomas Bennett last month upheld the Chapter 9 bankruptcy filing of Jefferson County, Alabama, the largest municipal bankruptcy case in history. As has been widely reported, the County’s financial woes were precipitated by the disastrous funding


Continue Reading Throwing Money (Literally) Down the Sewer – Jefferson County and Warrant Holders Square Off on Sewer System Operating Expenses

The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990’s, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled the County


Continue Reading The Right Kind of Broke? Judge Weighs Deeply Insolvent County’s Eligibility For Chapter 9 Protection