Equitable Mootness In The Municipal Bankruptcy Context

Law360, New York (October 21, 2016, 5:24 PM EDT) -- Laura E. Appleby

Todd J. Dressel Earlier this month, the Sixth Circuit provided to creditors of municipalities emerging from bankruptcy proceedings additional assurance that they can rely on the bankruptcy plan approved by a court.[1] In a 2-1 decision, the Sixth Circuit dismissed multiple appeals brought by approximately 135 participants in the city of Detroit’s General Retirement System (GRS), or about 1.5 percent of the 8,541 GRS participants that voted on the plan (the “retirees”), seeking to challenge the city’s approved bankruptcy plan because it altered...
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