Sheryl Toby Quoted in Crain’s Detroit Business Article about Detroit’s Pre-Bankruptcy Payment Recalls

Sheryl Toby, Bloomfield Hills-based member of Dykema's Bankruptcy & Insolvency Practice Group, was quoted in the Crain’s Detroit Business article, “Detroit Shifts to Second Gear in Bankruptcy Settlement Plan.”

The article describes the process of avoidable preferences, the legal expedient which allowed Detroit to reclaim payments made to its creditors shortly before the City declared bankruptcy in 2013. Toby explains some of the factors affecting how much a debtor might actually collect on preference actions. 

Subscribers to Crain’s Detroit Business can read the entire article here.