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U.S. Bankruptcy Judge Steven Rhodes has approved $183 million of fees charged by professionals during the city's bankruptcy, in a ruling that heaps praise on the attorneys and consultants who worked on the city's behalf.
February 12 -
A day after Wayne County officials warned of a grim financial picture, Moody's Investors Service stripped the county of its investment-grade rating and Fitch Ratings put its already junk-bond ratings on negative watch.
February 9 -
Fitch Ratings, which already maintains junk ratings on Wayne County, Mich., put the ratings on a negative watch just hours after the release of a new audit that warns the county could be out of cash by next summer.
February 6 -
The newly elected head of Wayne County Michigan, home to Detroit, warned Thursday that the county is on track to run out of cash by August 2016, calling it financial Armageddon.
February 5 -
It could be a crucial year for Detroit Public Schools as Michigan Gov. Rick Snyder, Detroit Mayor Mike Duggan and a newly created coalition of Detroit leaders take on problems at the long-troubled district.
January 27 -
Jones Day, the law firm that oversaw Detroit's bankruptcy, said it cut its fee by $18 million, leaving a $58 million final tab that it defended as reasonable given the "cutting-edge" nature of the Chapter 9 case.
January 21 -
Lazard Freres, which represented retirees in the Detroit bankruptcy, said it agreed to a 37% fee reduction as part of court-ordered mediation.
January 16 -
In a written ruling outlining his verbal affirmation of Detroit's bankruptcy exit plan, the federal bankruptcy judge overseeing the case warned that if Michigan does not act to assure that cities can pay their pensions, it may mean a repeat of the high-profile bankruptcy.
January 2 -
The Motor City paid $170 million in attorney and advisor fees during the largest municipal bankruptcy in the U.S.
December 31 -
Standard & Poor's gave an investment-grade A-minus rating to a series of bonds Detroit recently sold as part of its exit from bankruptcy.
December 22