Steven W. Rhodes
|Steven W. Rhodes|
|Current Court Information:|
|United States bankruptcy court, Eastern District of Michigan|
|Law School:||University of Michigan|
Steven W. Rhodes was a bankruptcy judge for the United States bankruptcy court, Eastern District of Michigan. He was appointed in 1985 to the Eastern District of Michigan. Rhodes retired on December 31, 2013.
Rhodes served on the Bankruptcy Appellate Panel (BAP) of the Sixth Circuit from 1997 to 2004. He was appointed to a new four-year term on the BAP beginning on January 1, 2008.
Detroit bankruptcy case (2013)United States bankruptcy court, Eastern District of Michigan
In July 2013, Senior Judge Steven W. Rhodes was assigned to the case managing the City of Detroit's Chapter 9 bankruptcy. The city filed bankruptcy on July 18, with a debt of over $18 billion. As a result of the filing, Detroit had the power to avoid paying some debts and petitioned Judge Rhodes to approve canceling contracts, notably those with public employees.
In early December 2013, Judge Rhodes agreed that public employee pensions should be treated like the other debt of the municipality. This allowed the City of Detroit to cut benefits to retirees as a course of bankruptcy, though Judge Rhodes said that he would not automatically approve a plan which did so.
Judge Rhodes approved Detroit's bankruptcy plan on November 7, 2014, describing it as a "grand bargain." It was the largest bankruptcy case in the United States as of that date. The plan removed $7 billion of the city's estimated long-term debt.
To read the order designating and recommending Rhodes as judge for this case, see: MLive.com, "States Bankruptcy Court Eastern District of Michigan Southern Division: Designation of Bankruptcy Judge".For more information on Detroit's bankruptcy filing, see Resnick Law, PC, "Frequently Asked Questions - Detroit Municipal Chapter 9 Bankruptcy."
- Steven W. Rhodes Biography
- Judge Profile: Steven W. Rhodes
- Bloomberg.com, "Detroit Bankruptcy Judge Rhodes Is Ponzi-Law Scholar," July 20, 2013
- MLive.com, "Detroit bankruptcy case assigned to Judge Steven W. Rhodes," July 19, 2013
- Forbes.com, "Detroit Is Eligible For Bankruptcy, And City Pensions Are at Risk," December 3, 2013
- Wall Street Journal, "Judge Approves Detroit’s Bankruptcy-Exit Plan," November 7, 2014
- Detroit Free Press, "The best quotes from Detroit's bankruptcy ruling," November 9, 2014