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A restructuring expert testified in bankruptcy court yesterday that Detroit's relatively fast move through municipal bankruptcy has resulted in costly creditor settlements and too little emphasis on fixing the city's broken operations, Reuters reported yesterday. Still, Martha Kopacz, who was appointed by Judge Steven Rhodes to assess the viability of Detroit's plan to restructure $18 billion of debt and obligations, concluded that the plan is feasible and...

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About ABI

The American Bankruptcy Institute is the largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues.The ABI membership includes more than 13,000 attorneys, auctioneers, bankers, judges, lenders, professors, turnaround specialists, accountants and other bankruptcy professionals...More...