When Detroit’s tens of thousands of creditors return their ballots, casting their votes for or against the city’s restructuring plan, they send them to a company called Kurtzman Carson Consultants, located in El Segundo, Calif. That hasn’t passed unnoticed. At an information meeting for employees last week about the new pension plan, a woman questioned “what kind of election” has the ballots sent out of state. A caller to The Craig Fahle Show on June 17 asked what kind of oversight there would be. The answers to those question are 1) it’s not an election, it’s a bankruptcy-plan voting process and 2) attorneys from the city’s pensions systems and the court’s Official Retirees Committee are onsite to review all the ballots cast. But today, the Detroit Free Press digs in further to the company and the role it has played in bankruptcies – municipal and private — for years across the country:
KCC, based in El Segundo, Calif., charged the city $642,004 for its work and expenses from July 18 — when the city filed for bankruptcy — through the end of last year, according to reports filed in bankruptcy court that detail the city’s professional fees related to its Chapter 9 case.
The price tag will soar as the voting takes place. But if you want to review some of the work KCC is doing, visit the company’s website, specifically its Detroit Chapter 9 page. It offers searchable, but not-quite-real-time updates of filings in the case, and other bankruptcy information. And unlike the federal court system where it costs 10 cents a page to view documents, including the docket, the KCC site is free.