August 18, 2013
Michael Sweet was quoted in The New York Times article "Braced to Remake Itself, Detroit First Awaits Challenges to Bankruptcy Eligibility." While the full text can be found in the August 18, 2013, issue of The New York Times, a synopsis is noted below.
Before the city of Detroit can begin remaking itself in bankruptcy court, it must prove that it qualifies for Chapter 9. Unions, creditors and retirees are expected to file objections to the city's bankruptcy protection, opening the legal battle as to whether the largest municipal bankruptcy in the nation's history should proceed.
"This is just getting your ticket punched to get in the door," said Michael Sweet, a noted financial restructuring and bankruptcy attorney.
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