Little to Gain from Motor City's Bankruptcy

, The National Law Journal


When Detroit filed for the largest municipal bankruptcy in U.S. history on July 19, it served as stark evidence that the regional economy has yet to recover from the Great Recession. The city's continuing troubles have hammered law firms heavily dependent on automakers for corporate work and employment litigation.

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Originally appeared in print as Little to Gain from Motor City's Bankruptcy Bankruptcy Filing Wallops Ailing City The Midwest Report

What's being said

  • BelowtheLaw

    For a law firm to dump its pension obligations on to the backs of the public is beyond comprehension. What does the American Bar Association say about this? The ABA has much to say about many ethical matters surely this is due review. For a firm to promise too much for too long and not take remedial measures because it would impact annual payouts to currently working attorneys is NO reason to dump it on to the backs of the American public. But, Detroit is Detroit.

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