Thursday, October 24, 2013

DETROIT - Is There Proof the City Met All Requirements For Bankruptcy?

"Detroit bankruptcy eligibility case goes to trial" PBS Newshour 10/23/2013


SUMMARY:  The city of Detroit filed for bankruptcy in July, and now it must prove to a judge that the conditions necessitate that protection.  But some pension funds, unions and retirees are fighting the filing.  Jeffrey Brown gets an update from Matthew Dolan of The Wall Street Journal on Detroit's finances.

HARI SREENIVASAN (Newshour):   Next: a pair of dispatches from Detroit at an important moment, starting with a key trial over the city's bankruptcy filing.  Detroit's leaders say the city is $18 billion in debt, forcing a move to Chapter 9.  But they also must persuade a judge the city has met all of the requirements to do so.  And opponents say that's not the case.

Jeffrey Brown has more.

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