How do I look up bankruptcy in Michigan?
The bankruptcy status of litigants and criminal defendants can be confirmed or determined through PACER. To determine what federal court district you are in, go to http://www.mieb.uscourts.gov/generalInfo/location.html.
What happened to pensions in Detroit?
The city’s bankruptcy Plan of Adjustment gave Detroit a decade-long reprieve from making regular pension fund payments, while cutting retirees’ pension and health care benefits and transferring current workers to a less generous retirement plan. The latter also saw base benefits cut by around 4.5 percent.
How much debt does Detroit have?
In 2020, Detroit had approximately $1.98 billion in gross direct debt made up of $1.5 billion of tax supported debt including unlimited tax and limited tax general obligation bonds. The other $457 million was made up of revenue bonds and debts from other projects.
What big companies are moving to Detroit?
Companies including Accenture, Ford Motor Co., Google, Microsoft and Tata Technologies are moving or expanding their operations to the city as they seek to connect with other innovators and compete for young talent.
Is Detroit getting better 2021?
Detroit is going to be very hot for Global Investments in 2021. If you are ready to invest in the Detroit housing market, or wish for a call and more information on the latest properties Global Investments can offer then please email us today at : [email protected]
What happened to Detroit pensions after bankruptcies?
Detroit’s two pension funds received the state’s grand bargain bankruptcy contribution of $194.8 million in early 2015. Under the bankruptcy agreement, the city froze two existing pension plans, created two new plans for current and future workers, and established new governance structures to oversee the pensions.
How much is the average US pension?
The average private pension in the United States today is about $10,788, according to data from the Pension Rights Center. Other types of pensions, such as government and military defined benefit plans, have a higher average per year.
How broke is Detroit?
The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama’s $4-billion filing in 2011.
How Much Is Detroit worth?
Detroit’s six-county Metropolitan Statistical Area has a population of about 4.3 million, a workforce of about 2.1 million, and a gross metropolitan product of $200.9 billion.