• Sat
  • Dec 27, 2014
  • Updated: 9:34am

Detroit

On July 18, Detroit became the biggest city to file for bankruptcy in US history. It owes about 100,000 creditors between US$18 and US$20 billion.

Detroit considers pushing its retirees into health exchanges: lawyer

Detroit in July became the largest city in US history to seek bankruptcy protection. Photo: AFP

Detroit’s emergency manager is considering ending its health insurance coverage for city retirees under age 65 and giving them a modest stipend to purchase insurance from the health exchanges being established under Obamacare, according to a lawyer who represents two asso

Friday, 13 September, 2013, 11:17am

Detroit seeks US$350m ground-breaking loan

In 1950, Detroit had 1.8 million people and the big three automakers dominated the auto industry, but the city has gone into sharp decline in recent decades, culminating in its bankruptcy this year. Photo: AFP

Detroit, which made the largest Chapter 9 municipal bankruptcy filing in US history, on Thursday filed a request for proposals for US$350 million in unprecedented financing, the city emergency manager’s office said.

Detroit is the first large US city to seek so-called debtor-in-possession (DIP) financing after asking for bankruptcy court protection.

30 Aug 2013 - 12:31pm

Christie’s hired to appraise Detroit art collection

A visitor takes a picture of Vincent van Gogh’s self portrait in the Detroit Institute of Arts’ collection. Photo: Reuters

Christie’s said it has been hired by Detroit to appraise part of the Detroit Institute of Arts’ collection as the city looks for ways to pay at least US$18 billion in debt and unfunded liabilities after applying for bankruptcy protection in July.

Christie’s said in a statement that it would advise the city on how to realise value for the art without selling it.

6 Aug 2013 - 11:07am

Small manufacturers bet on Detroit brand despite bankruptcy

A Shinola employee (right) helps a customer with a Shinola watch. Small companies like Shinola are helping to revive the ‘Made in Detroit’ brand. Photo: Reuters

For nearly six decades Detroit’s story has been one of relentless erosion of its once mighty manufacturing base, but even as the Motor City faces a long bankruptcy a clutch of small producers has moved in to rekindle the “Made in Detroit” brand.

2 Aug 2013 - 2:40pm

Detroit set to beat bad-faith charge over bankruptcy

Heather Lennox (gray suit, fifth from left), the attorney who presented the city of Detroit's bankruptcy case to the judge, leaves the Federal Courthouse building during a break in a hearing this week. Photo: AFP

Meetings without the chance for any back and forth, unreturned phone calls and brusque tactics. To opponents of Detroit’s bankruptcy filing, emergency manager Kevyn Orr has utterly failed to negotiate with them.

26 Jul 2013 - 2:52pm

Bankrupt Detroit’s downtown renaissance creates trickle of hope

In parts of Detroit, fire hydrants don’t work and infrastructure is disintegrating. Photo: Reuters

Detroit’s bankruptcy filing last Thursday - the largest in American municipal history - completed a six-decade slide for a one-time industrial powerhouse. Today the city bears an uncomfortable resemblance to a failed state: unable to light or police the streets, educate children, stop arson, or provide emergency care to the dying.

23 Jul 2013 - 11:17am

Federal judge sets first hearing in Detroit bankruptcy case

General Motors global HQ in Detroit, the cradle of the US automotive industry, went broke last week. Photo: Reuters

A federal court judge has set the first hearing in Detroit’s bankruptcy case for Wednesday to take up the city emergency manager’s request to put state lawsuits challenging the bankruptcy filing on hold.

23 Jul 2013 - 11:08am

In Detroit’s ruin, law firms see land of new opportunity

Detroit’s bankruptcy is expected to draw an army of lawyers representing the city’s approximately 100,000 creditors. Photo: AFP

With more than US$18 billion at stake in Detroit’s restructuring, big law firms and other advisers are clamouring to represent the city’s many creditors - including some advisers not exactly known for municipal work.

22 Jul 2013 - 10:46am

Cheap Detroit homes are costly for communities, unwary buyers

A boarded up house has flowers painted on the planks to keep vandals out in the Brightmoor neighbourhood of Detroit. Photo: Reuters

The solid red brick house on a block of similar homes in Northwest Detroit sounds like a steal at US$3,728 (HK$28,906).

But in many ways, it’s a lemon.

4 Jul 2013 - 2:42pm

Chinese investors eye bankrupt house market in Detroit

An abandoned house in Detroit. Photo: SCMP/ Nandu

Two days after a Chinese real estate agency, whose location was not disclosed, advertised an investors' tour in Detroit, thousands of people have expressed interest, according to a report in the People's Daily. The same agency is advertising a tour to the US east coast in April, which costs 25,000 yuan and will take investors to Washington DC, Boston and New York City.

21 Mar 2013 - 1:35am 3 comments

Briefs, March 3, 2013

Moscow protesters urge end of foreign adoptions. Photo: Reuters

Britain's Queen Elizabeth is recovering after coming down with a stomach bug that forced the cancellation of a royal engagement. The 86-year-old monarch yesterday cancelled a visit to Swansea, Wales. 

3 Mar 2013 - 6:30am

Public Eye

That'll teach them

6 Jan 2010 - 12:00am

Weekly gets revved up in write-up about mainland auto industry

You can tell a lot about a city by its property market - indeed, probably everything you need to know about it economically.

In today's Detroit, home of the struggling 'Big Three' automakers, property bargains can be had for just US$1 or US$50. You read that right - US$1, or HK$7.78.

9 May 2009 - 12:00am

Inline stars to take on world

For the first time, Hong Kong will send a junior inline hockey team to this year's World Championships, which will be held near Detroit in the United States.

The tournament is sanctioned by the Federation International of Roller Sports and will be hosted by the Amateur Athletic Union, which organises the Junior Olympics for all sports in cities around the US every summer.

29 May 2006 - 12:00am

Man held over deaths

Detroit: Police arrested a former navy man suspected of murdering three prostitutes in Detroit and who may have committed other killings in Hong Kong, Singapore, Thailand, Japan and Israel.

The 26-year-old suspect, reportedly named John Eric Armstrong, served aboard the USS Nimitz and could be involved in murders during shore leave around the world.

14 Apr 2000 - 12:00am

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