SIFMA submitted an Amicus “Friend of the Court” Brief

Court:

U.S. Bankruptcy Court
(E.D. Michigan)

Amicus Issues:

Whether the City of Detroit and the Emergency Manager are violating Michigan law by failing to segregate tax receipts to repay general obligation bonds. Whether, under Michigan law, all taxes that are levied for the purpose of paying general obligation bonds must be applied to the repayment of debt service prior to the payment of other unsecured claims.

Counsel of Record:

Nixon Peabody LLP

Mark N. Berman
Robert N. H. Christmas

Other Amici:
None