Bruce Bennett

The city of Detroit's $18 billion bankruptcy filing continues to consume Bennett's time.

"The case is huge," said Bennett, who is representing the city in this historic Chapter 9 proceeding.

There are many challenges in this multidimensional case.

Among them are a wide variety of creditor claims, including billions of dollars of pension claims, administered under two separate pension funds.

Also in the mix are 46 bargaining units for employees represented by unions.

"We also had some unusually structured securities," Bennett said. "We needed to devise solutions for all of them."

Meanwhile, he added, "We are very pleased that we have reached agreements with 40 different classes of creditors. The remaining problems are relatively few."

Bennett is serving as co-lead counsel with Jones Day partner David Heiman. In addition are lawyers, with a variety of specialties, who are working on the matter, mainly in Cleveland, Washington D.C. and Chicago.

While there was a lot of delegation, Bennett said, "I had to remain involved with many things at the same time to make sure that all of the different efforts were consistent. It's not easy and it takes a lot of time."

Detroit's bankruptcy is far more complex than the 1994 Orange County Chapter 9 proceeding in which Bennett served as lead debtor's counsel.

"Detroit's problems are more multidimensional and pervasive than the problems that confronted Orange County," he said.

But, Bennett added, the experience he gained working on the Orange County matter has proven to be helpful in Detroit.

"I think that we are very near the end of it," he said. "I am confident the plan that has been filed will be confirmed."

<< PAT BRODERICK