Bankruptcy Law

The city of Detroit emerged from bankruptcy on Dec. 10, closing a painful chapter in its history and opening the door to a potentially brighter future. Detroit marked the largest municipal bankruptcy in American history, according to The New York Times. Its historic bankruptcy filing lasted a [...]

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A bankruptcy judge on Dec. 12 voided the proposed sale of the Revel Casino Hotel to a Canadian firm that backed out of the deal. As requested by Revel Entertainment, Bankruptcy Judge Gloria Burns canceled the sale of the casino to Toronto-based Brookfield Asset Management for $110 million, [...]

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