|Detroit bankruptcy trial moves to closing remarks||| Print ||
|Written by Associated Press|
|Friday, 08 November 2013 07:42|
DETROIT (AP) — An eight-day trial to determine Detroit's path in bankruptcy is closing with final arguments from the city, retiree groups, unions and pension funds.
The city filed for Chapter 9 protection in July, but a judge must determine whether Detroit is eligible to be in bankruptcy court. Critics claim emergency manager Kevyn Orr wanted bankruptcy for months and didn't want to try good-faith negotiations before filing.
The last witness Thursday was the president of the Detroit police union. Closing arguments could last all day Friday.
If Detroit is found eligible to stay in bankruptcy, the case would turn to how to solve $18 billion in debt. The city has said it could propose a plan by the end of the year.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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