Today’s column updates readers on major events that transpired in the high-profile bankruptcy cases of the City of Detroit, the Girls Gone Wild franchise, Houston Regional Sports Network, Dewey & LeBoeuf and Dreier. It discusses Detroit’s historic win in its Chapter 9 eligibility battle and next steps in its proceeding; the proposed sale of Girls Gone Wild and the Astros’ failed attempt to dismiss Houston Regional Sports Network’s bankruptcy case; and litigation and other developments in the Dewey & LeBoeuf and Dreier bankruptcy proceedings.
City of Detroit and Chapter 9
The City of Detroit filed for bankruptcy protection under Chapter 9 of the Bankruptcy Code on July 18, 2013. It made history as the largest municipality to seek bankruptcy protection to date listing $18 billion in debt, including $11.9 billion of unsecured obligations owed to lenders and retirees.
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