Law firm co-sponsors competition for entrepreneurship
In partnership with the Michigan Corps, the Michigan Economic Development Corporation and other local businesses and philanthropic partners, Jaffe Raitt Heuer & Weiss announced its co-sponsorship of the Michigan Social Entrepreneurship Challenge during a press conference March 6 at Tech Town Detroit.
The Michigan Social Entrepreneurship Challenge invites individuals and teams to submit plans for an emerging idea or existing venture with a sustainable solution to a clearly defined social problem in areas including, but not limited to, chronic unemployment, health and nutrition, the environment, urban revitalization and education. Participants will compete for more than $60,000 in prizes—including a tailored package of legal services from Jaffe, which will help ensure a solid legal and business foundation for the winner’s future success.
“We are honored to be a sponsor of the Michigan Social Entrepreneurship Challenge,” said Jaffe CEO Bill Sider. “Our team is inspired by the ingenuity and innovative concepts that social entrepreneurs bring to our communities. We look forward to working closely with the winner to help amplify their success.”
Jaffe Partner Jennifer Oertel will work closely with the winning team to help launch and grow the social venture. Oertel leads Jaffe’s Tax Exempt Practice Group, counseling a wide variety of nonprofit and charitable organizations throughout the nation, including family foundations, cultural institutions, and other educational, religious and social impact organizations. Uniquely positioned to address the multidimensional needs of tax exempt organizations, Oertel and the practice group counsel their clients in federal tax exemption qualification and compliance, corporate formation, nonprofit corporate governance, joint ventures, fund investment management issues, program related investments, employment and compensation issues, and charitable solicitation registration.
To learn more and register for the competition, visit http://michigancorps.org/TheChallenge.
Judge Steven Rhodes reschedules trial date on bankruptcy plan
DETROIT (AP) — A judge has pushed back the trial date on Detroit’s plan to emerge from bankruptcy by one month.
U.S. Bankruptcy Judge Steven Rhodes set an updated series of deadlines Thursday, including a July 16 trial date. The trial previously had been set for June 16, and the new schedule offers more time for all sides to negotiate and resolve disputes before then.
The blueprint from state-appointed emergency manager Kevyn Orr for Detroit’s restructuring and debt removal calls for the city to spend $1.5 billion over 10 years to remove blighted properties, upgrade public-safety equipment and technology and make other improvements.
Meanwhile, the Detroit Free Press reports that the city on Thursday reached a new deal with Barclays to borrow $120 million to speed the restructuring and invest in services.
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