Kirkland & Ellis and its client Syncora Guarantee Inc. issued an extraordinary public apology Monday for attacking the motives and good faith of the two mediators working on the Detroit bankruptcy. The assault on the mediators was a daring tactic, made even more risky by the fact that the lead mediator is the chief judge of the Eastern District of Michigan, Gerald Rosen. The other mediator is attorney Eugene Driker, whose wife was also dragged into the controversy.
The apology was issued less than a week after insurer Syncora dropped its opposition to Detroit’s plan to emerge from Chapter 9 bankruptcy upon striking a deal with the city—with the mediators’ help.
