Is being a settlement asshole a good way to get an airport? Bankrupt City Detroit is thinking about throwing some real estate into the deal with creditors. The Detroit News reports that they might bargain away the Coleman A. Young Municipal Airport and a stake in the Detroit-Windsor Tunnel. That's some Mega Real Estate? Can't they just round up 100 abandoned houses into a bouquet? At 13 months into the case, a company called Syncora is giving the city's legal team a real run for their money. The company, which stands to lose $270 million, has previously pushed Detroit to liquidate the DIA art. The are described by the Det News article as fierce opponents to the city willing to challenge everything. Previously, Kevyn Orr proposed spending $28.5M to improve City Airport. Here's our tour of its past and current potential.
· Detroit's Lonely City Airport Might See $28M in Upgrades [Curbed Detroit]
· Detroit may sweeten bankruptcy deal with real estate to persuade creditor to settle [The Detroit News]