Trial begins today in the U.S. Bankruptcy Court in Detroit over whether the city of Detroit is even eligible for the Chapter 9 bankrupcty protection it sought earlier this year. The major point of contention is whether Detroit may, under the Michigan constitution, seek bankrupcty in a way that would reduce pension payments (as it would reduce payment to all its creditors).
Detroit Bankruptcy Eligibility Trial Begins, Art Collection Could Hang in the Balance
Posted by
Nicholas O'Donnell on October 23, 2013 at 5:22 AM
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Topics: American Alliance of Museums, Ford Bell, Detroit, Bankruptcy, Detroit In, Kevyn Orr, Detroit Free Press, Detroit Bankruptcy
