In connection with Detroit's Chapter 9 bankruptcy proceeding, approximately $5.3 billion in special revenue water and sewer bonds were issued by the City of Detroit, Michigan, in the United States Bankruptcy Court for the Eastern District of Michigan. The water and sewer bonds collectively represented one-third of the total estimated $18 billion of indebtedness owed by Detroit. At the time of filing in June 2013, Detroit was the largest municipal bankruptcy on record.
Waller represented the indenture trustee for the water and sewer bonds in Detroit's Chapter 9 bankruptcy proceeding.
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