Insolvency and Restructuring partner Craig Barbarosh spoke with Bloomberg, The Detroit Free Press and The Wall Street Journal on the dire fiscal situation in Detroit. Facing an estimated debt of $19 billion, a dwindling population, rising crime and deteriorating public services, the city filed the country’s largest-ever municipal bankruptcy case. While Chapter 9 protection could increase Detroit’s financial prospects, some creditors remain skeptical. As Craig explains, while “a bankruptcy gives Detroit some breathing room and some new tools to try to resolve their problems … that doesn’t mean it will be successful.” (“Detroit Slides from Industrial Might to Bankruptcy,” July 19, 2013; “Are DIA Works More at Risk with Bankruptcy?” July 19, 2013; “Decision Day Nears for Detroit Bankruptcy,” July 18, 2013)