DETROIT (AP) — The city of Detroit is going to court in an unusual trial that will determine if it really qualifies to scrub its finances in the largest public bankruptcy in U.S. history.
Detroit filed for Chapter 9 protection in July, flattened by at least $18 billion in debt. But nothing can happen until a judge finds the city is eligible to be in bankruptcy court.
Unions and pension funds claim Detroit flunks the test because it failed to hold "good-faith" negotiations with them earlier this year, a key point in bankruptcy law. The city says it's met its burden.
The trial starting Wednesday is expected to last several days with testimony from emergency manager Kevyn Orr and possibly Gov. Rick Snyder, who authorized the bankruptcy filing in July.
- Society & Culture
- city of Detroit
- bankruptcy court
Tags: iOS 7 Release Time bo pelini Miley Cyrus Vmas 2013 Youtube taylor swift Delbert Belton
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.