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Detroit’s bankruptcy: What’s it got to do with St. Louis?


October 31, 2013

Bankruptcy street art

Local street artists created this graffiti mural north of downtown Detroit in response to the city’s bankruptcy filing.

Peter Czajkowski

Peter J. Czajkowski

David Nicklaus

David Nicklaus

Testimony is now underway in Detroit’s massive bankruptcy. As attorneys grill Michigan’s governor about the state’s pension liabilities and why he authorized the bankruptcy filing, other cities are carefully watching the outcome.

It’s unlikely that a Detroit-style bankruptcy would beset St. Louis anytime soon. But any professionals who buy, sell, or broker municipal bonds, or who are involved in the public pension industry, should be keenly interested in the case’s outcome.

The St. Louis business community can get a comprehensive look at the central issues of the Detroit bankruptcy at an exclusive seminar hosted by Thompson Coburn: “Bondholders vs. Pensioners vs. Taxpayers: The Detroit Bankruptcy and How It May Affect You.” The two-hour seminar will be held Thursday, Nov. 7, from 3-5 p.m. at the Marriott West. A networking reception will follow.

Thompson Coburn attorneys who practice in public finance, pension law, governmental relations, and bankruptcy will analyze the relevant issues affecting bondholders and pensioners. They'll be joined by three distinguished panelists with unique perspectives on the issues at play in the Detroit bankruptcy:

For a helpful overview of the central legal and financial issues of Detroit’s bankruptcy, consult David Warfield’s recent article for the St. Louis Business Journal, “Could a Detroit-style bankruptcy happen here?