Case Study
Litigation & Financial Services: Brokering A Fair Deal In The Detroit Bankruptcy
the challenge the opportunity the plan The politics were heavily weighed against our client. The media, politicians, judges and pundits were focused on preserving the pension benefits of retired city workers as well as avoiding the sale of any of Detroit’s assets, including its valuable art collection. Our client and other creditors were being portrayed as villains for merely asking for a seat at the table and fair treatment during negotiations. Bankruptcy law was on the side of our client. All “similarly situated” creditors are supposed to be treated the same. Sympathetic creditors do not have any advantage over unsympathetic creditors in a court of law. The media and much of the pundit class had no knowledge of the law or the potential consequences to Detroit of treating creditor