New Judge Takes Over Detroit Bankruptcy

CHICAGO — The new bankruptcy judge who took over Detroit's historic case this week has asked the city's attorneys to meet with him to discuss tying up final loose ends and the status of the plan of adjustment.

Judge R. Guy Cole, chief judge of the 6th U.S. Circuit Court of Appeals, on Feb. 17 tapped U.S. Bankruptcy Judge Thomas Tucker to take over the historic case.

Steven Rhodes, who oversaw the bulk of the 18-month case, including the city's exit in December 2014, retired formally on Feb. 18.

Tucker has been a federal bankruptcy judge since 2003, according to the Detroit News.

In his first action, Tucker scheduled a status conference on the case for March 4 to "further the expeditious and economical resolution of this bankruptcy case," the judge said in a filing. "The Court wishes to discuss with counsel for the Debtor what still needs to be done, and how soon it can be done, in order that this bankruptcy case can be closed as rapidly as possible."

He also asked the city's attorneys to file a status report by Feb. 26 that addresses several issues, including the status of the implementation of the city's plan of adjustment, and any lingering claim objections, and if the city expects to see any more objections or contested issues filed with the court.

With regard to the city's confirmation plan, Tucker asked attorneys to address the status of the plan, and "what, if anything, is left to be done to implement the plan, and how soon it will be done."

For reprint and licensing requests for this article, click here.
Bankruptcy Detroit bankruptcy Michigan
MORE FROM BOND BUYER