Detroit, Michigan, USA (July 20, 2013) -- The 18 July 2013 bankruptcy filing by Detroit Emergency Manager Kevyn Orr and Governor Rick Snyder was halted 19 July 2013 by Ingham County, Michigan Judge Rosemarie Aquilina. Judge Aquilina ruled the city's historic bankruptcy filing violates the state's constitution and must be withdrawn.
"I have some very serious concerns because there was this rush to bankruptcy court that didn't have to occur and shouldn't have occurred," Judge Rosemarie Aquilina stated. The statements by Judge Aquilina mirror the information and conclusions contained on the website http://www.detroit1st.com. The website reached its conclusion in January of 2013. The website brings into question the facts that city of Detroit and state of Michigan have shipped over $5 billion out of the city to other cities and states, while passing up an opportunity gain in excess of $10 billion in revenues.
In a similar criticism of the bankruptcy filing, Moody's Investors Service managing director Jack Dorer, who called Orr's restructuring plan "unconventional and unusual." The website http://www.detroit1st.com further questions actions that have not been taken that would and would have avoided Detroit's economic crisis from reaching the point of a bankruptcy filing. The website notes that African Americans in metro Detroit spend $40 billion annually according to Clear Channel advertising. The largest source of controversy surrounds the agreement and business dealings concerning Detroit's 3 casinos. The attorney that negotiated the deal on behalf of the city of Detroit now works for MGM casinos. The mayor that signed the deal Dennis Archer, now works for the Ohio casinos which are the chief competitors to Detroit's casinos. The website also notes that Detroit casinos have an unusually low tax rate that has cost the city at least $3.9 billion in tax revenues.
The website calls for a public debate between Governor Rick Snyder, Emergency Manager Kevyn Orr and lifelong Detroiter Jerome Almon. Mr. Almon is also calling on transparent public hearings concerning the bankruptcy filing. Governor Snyder and Mr. Orr have both refused public hearing and any debate on the issue.
Company Name:Detroit1st.comContact Person: Jerome Almon
Email:almonjer@gmail.com
Phone: 323-834-2372
City: Detroit
State: Michigan
Country: United States
Website: http://www.Detroit1st.com
