Judge Steven Rhodes today approved the city’s plan to refinance $1.5 billion of its water department debt. Here's what happened in court and how the deal unfolded.
In a comprehensive and lively package of stories, our Detroit Journalism Cooperative partner Bridge Magazine delves into the issue, including if there is one, of gentrification in Detroit. If the city's bankruptcy case yields a "reset" and services, livability and safety improve, this could be a preview of further emerging conversations and perspective. Plus there's just a cool "Hipster Map of Detroit" to check out.
Late last night, the city filed its seventh version of its Plan of Adjustment, the blueprint of how it wants to restructure debt and city services as part of its bankruptcy case. Here it is:
The judge overseeing Detroit’s historic bankruptcy case removed from the record Syncora’s “personal attack” on the case’s chief mediator and gave the bond insurer’s attorneys until Sept. 12 to explain why they shouldn’t face sanctions. Earlier this month, Syncora’s attorneys in a court filing criticized Chief U.S. District Judge Gerald Rosen for showing “naked favoritism” toward […]
The MiWeek team previews Detroit’s historic bankruptcy trial, scheduled to start on Tuesday. The program will air on Detroit Today at 9 a.m. Friday.
If and when Detroit emerges from bankruptcy, the city will have additional financing to help it operate. Barclays Capital has agreed to back up to $275 million in financial recovery bonds. The notes will be issued by the Michigan Finance Authority. Detroit officials say they will use the money, in part, for reinvestment and revitalization […]
Bridge Magazine’s Nancy Derringer and MLive reporter David Muller join Rochelle and Laura to discuss the relationship between Detroit’s seniors and gentrification in the city’s greater downtown district. We consider it a preview of discussions that promise to further intensify in the city’s post-bankruptcy era if reinvestment continues and repopulation draws younger residents into the city’s neighborhoods.
NextChapterDetroit’s Sandra Svoboda joins Laura Weber Davis and guest host Rochelle Riley to describe the latest courtroom surprises, how the DWSD bond sale is progressing and what to expect at the city’s bankruptcy trial, scheduled to begin Tuesday.
UPDATE: Here is the actual objection filed in court by creditors objecting to the DIA settlement proposed in the city’s bankruptcy case. In it, attorneys argue Judge Steven Rhodes should reject the city’s plans on the grounds that it does not maximize the value of the city’s assets (the artwork). The national media debuted the […]
It was Syncora’s “Alternative Universe” argument. An attorney for the bond insurer asked Judge Steven Rhodes to consider the Detroit bankruptcy case from the perspective of the financial creditor in a creative nine-minute narrative on Monday that was part of a bigger hearing. Part Mad Libs, part legal strategy, part emotional appeal, Syncora attorney Stephen […]
AboutNext Chapter Detroit is a place to explore and understand the city’s bankruptcy, its impact on people and neighborhoods and its long-term implications. Powered by coverage and conversations from the media outlets of the Detroit Journalism Cooperative, the site provides fact-based reporting from trusted sources and opportunities for citizen engagement.
WDET’s Sandra Svoboda is your site guide. A veteran Detroit journalist and 24-year area resident, she’ll share stories, add insight and ask questions to help decode the bankruptcy process and the city’s restructuring.