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Category Archives: Bankruptcy

Judge to Detroit Pensioners: “Impairing contracts is what the bankruptcy process does”

In an opinion filed December 5, Bankruptcy Judge Steven W. Rhodes ruled that the city of Detroit is eligible to file for bankruptcy. Perhaps more importantly for the 110 parties that unsuccessfully filed objections, Rhodes also ruled that “[p]ension benefits are a contractual obligation of a municipality and not entitled to any heightened protection in […]

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