Detroit Bankruptcy Judge Rhodes Is Ponzi-Law Scholar

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http://www.bloomberg.com/news/2013-07-20/detroit-bankruptcy-judge-rhodes-is-ponzi-law-scholar.html

Detroit’s bankruptcy, the largest municipal collapse in U.S. history, will be overseen by a 28-year veteran of the bench and writer on Ponzi-scheme law who’s taking on the biggest case of his career.

U.S. Bankruptcy Judge Steven W. Rhodes, 64, was assigned the case by Alice Batchelder, the chief judge for the U.S. Court of Appeals in Cincinnati, following recommendations by lower-court judges in Detroit, according to a court order filed yesterday.

“It is our unanimous and very strong belief that Honorable Steven W. Rhodes is the bankruptcy judge best qualified to preside over the city of Detroit Chapter 9 case,” Phillip Shefferly, chief of the U.S. Bankruptcy Court in Detroit, wrote in a letter filed with the court.

Detroit filed the biggest U.S. municipal bankruptcy on July 18, a move the city’s emergency manager, Kevyn Orr, said was the only way to deal with a debt load of $18 billion. The city’s bid for a turnaround is now in the judge’s hands.