Bill on Bankruptcy: Detroit Flunks Good-Faith Test

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Dec. 12 (Bloomberg) -- Although Detroit was found eligible for municipal bankruptcy, the judge said the city came up short of conducting required good-faith negotiations, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their video. Someone with a desire to own a famous restaurant should visit the bankruptcy court in New Orleans where Brennan's is being liquidated involuntarily. Before closing the video with discussion of the fewest bankruptcy filings since 2007, Rochelle dissects the latest opinion where U.S. District Judge Jed Rakoff bars the trustee from suing cohorts of Bernard Madoff.


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