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The Act requires general contractors and subcontractors performing services on prime contracts in excess of $2,500 to pay service employees in various classes no less than the wage rates and fringe benefits found prevailing in the locality as determined by the United States Department of Labor, or the rates contained in a predecessor contractor's collective bargaining agreement.
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
Kevyn Duane Orr [1] (born May 11, 1958) is an American lawyer who served as the emergency financial manager of the city of Detroit from 2013 to 2014 during the city's Chapter 9 bankruptcy. [ 2 ] [ 3 ] Orr is now a partner at the law firm Jones Day in its bankruptcy practice.
By KATE ROGERS Detroit made history Thursday as the largest American city in history to ever file for Chapter 9 bankruptcy protection. The once vibrant city rooted in auto manufacturing and music ...
DETROIT (AP) - A judge was expected to announce Tuesday whether Detroit can come up with a plan to get rid of $18 billion in debt in the largest public bankruptcy in U.S. history, a case that ...
For many years, the United States Attorney's Office used the Laffey Matrix ("USAO Laffey Matrix") as a basis for hourly rates for attorneys' fees in litigation claims. This matrix used the original Laffey Matrix from 1982 and adjusted it annually using changes in the Bureau of Labor Statistics Consumer Price Index for all Urban Consumers for the Washington-Baltimore area.
Here is were to see the award-winning documentary, "Gradually, Then Suddenly: The Bankruptcy of Detroit’ this week in metro Detroit.
The first municipal bankruptcy legislation was enacted in 1934 during the Great Depression. [2] Although Congress attempted to draft the legislation so as not to interfere with the sovereign powers of the states guaranteed by the Tenth Amendment to the Constitution, the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. [2]