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February 5, 2015

Kopacz and Gleason Author White Paper Discussing Feasibility in the City of Detroit Bankruptcy

Philadelphia (February 5, 2015) —- Marti Kopacz, Senior Managing Director of Phoenix, and Brian Gleason, Senior Managing Director and Shareholder of Phoenix have authored a white paper titled “An Answer to the Question: What is Feasibility in Chapter 9?” The white paper discusses chapter 9 feasibility in general and the specific feasibility assessment in the City of Detroit’s bankruptcy.

Marti Kopacz was appointed by the U.S. Bankruptcy Judge Steven Rhodes as his independent expert regarding the question of feasibility of the City of Detroit’s historic bankruptcy plan. Brian Gleason led Phoenix’s team in support of Kopacz’s expert assignment. Kopacz concluded that the City of Detroit’s Plan of Adjustment was feasible and the underlying financial projections were reasonable. The paper speaks to the thought and research behind the evolution of the feasibility Standard developed by the Phoenix team and accepted by the Court. In addition, the paper expands upon a variety of feasibility assessment questions that address both the qualitative and quantitative prongs of the Standard.

“Our assessment of feasibility in the Detroit bankruptcy concluded that the POA was feasible. We are honored and humbled that the Standard we developed was accepted by the Court. We believe that the Standard can be applied to a wide range of municipal insolvency and restructuring issues in the future, and can guide stakeholders in working through challenges faced by many of our governmental entities,”says Marti Kopacz.

Click here to see the full white paper: “An Answer to the Question: What is Feasibility in Chapter 9?”

About Phoenix:

For over 30 years, Phoenix has provided smarter, operationally focused solutions for middle market companies in transition. Phoenix Management Services® provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth oriented companies. Phoenix Capital Resources® provides seamless investment banking solutions including M&A advisory, complex restructurings and capital placements. Phoenix Capital Resources is a U.S. registered broker-dealer and member of FINRA and SIPC. Proven. Results.®

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