Bankruptcy costs Detroit retirees

Bankruptcy costs Detroit retirees
From the start, that figure has been a fiction, pumped up by Emergency Manager Kevyn Orr and crew to help ensure Detroit was declared eligible for bankruptcy. And, from the start, it was clear that Orr saw it as his mission to go after — rather than …
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Mayor Duggan Alarmed Over Bankruptcy Fees Detroit Owes
Lawyers and consultants made quite a handsome profit from the misery of Detroit's historical bankruptcy. In fact, there were even reports of some legal fees running as much as $ 1,000 an hour. Now, Matt Helms of the Detroit Free Press reports that Mayor …
Read more on Deadline Detroit

Losing Bankruptcy Liability Shield Could Cost GM Billion
GM has said it's setting aside as much as $ 600 million to compensate people who were injured or lost loved ones in those vehicles, including pre-bankruptcy models, that inadvertently lost power. GM says it isn't obligated, however, to pay economic …
Read more on Insurance Journal

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