Mayor Duggan testifies city can succeed under bankruptcy plan
DETROIT (AP) — Detroit Mayor Mike Duggan testified in federal court Monday that the city has a feasible strategy with the resources it needs to successfully emerge from bankruptcy protection but said that the plan is also contingent on the wider economy and other outside forces.
Duggan appeared before U.S. Bankruptcy Judge Steven Rhodes as lawyers representing Detroit wrapped up their case Monday with testimony from City Council President Brenda Jones. Rhodes still needs to hear from his own expert, and other witnesses could be summoned.
“I support this plan, and I believe it is feasible,” Duggan said, though he warned of factors outside of the city’s control.
“I can’t predict a national recession,” he said. “I can’t predict a cut in state revenue sharing. I can’t predict other casinos being approved,” he said. Detroit gets a share of the taxes on the $1.35 billion in annual revenue from the city’s three casinos.
“This is going to be tight, and it’s not without risk,” he continued.
Rhodes is seeking assurances that elected leaders will take the steps needed to get the city’s operations back on track should he approve the plan to shed $7 billion in accumulated debt. The city’s plan includes spending $1.7 billion over the next decade to improve police, fire and other services.
The bankruptcy plan was drafted by emergency manager Kevyn Orr, who was hired by state in March 2013 to fix Detroit’s finances. That July, he made Detroit the largest U.S. city to file for bankruptcy.
Brinks attorney to speak on nanotechnology at exposition
Keith Weiss, Ph. D., attorney in the Detroit office of Brinks Gilson & Lione, will present “The Evolving Intellectual Property Landscape for Nanomaterials” on Oct. 13 at the Materials Science & Technology (MS&T) 2014 Conference and Exposition, to be held Oct. 12-16 in Pittsburgh. MS&T is a partnership that brings together scientists, engineers, students and suppliers to discuss current research and technical applications and to shape the future of materials science and technology.
The nanosystems and nanostructures developed for use in energy, environment, electronics, healthcare and industry applications may incorporate a variety of different nanomaterials. These nanomaterials can be comprised of metals, ceramics, polymeric materials and even composite materials that exhibit unique characteristics related to their chemical, electronic, and mechanical properties. Carbon nanotubes, nanocrystalline metals and polymeric nanofibers, just to name a few, represent some of the intriguing technologies that have been the focus of continued development. Weiss’ presentation will provide an overview of the patent landscape relative to nanomaterials and players in the field, highlighting opportunities and roadblocks to the future deployment of such materials in nanotechnology applications.
At Brinks, Weiss focuses his practice on patent prosecution and intellectual property agreements with an emphasis on IP portfolio planning, development and management. Prior to practicing law, he worked for 20 years in R & D management, product development and technology licensing.
––––––––––––––––––––
Subscribe to the Legal News!
http://www.legalnews.com/Home/Subscription
Full access to public notices, articles, columns, archives, statistics, calendar and more
Day Pass Only $4.95!
One-County $80/year
Three-County & Full Pass also available
