DETROIT (AP) — A judge said Monday that he'll announce next week whether Detroit is eligible to overhaul itself in bankruptcy court, the most important decision since the largest public filing in U.S. history last summer.
Judge Steven Rhodes said he'll announce a decision on Dec. 3 and issue a written opinion later. By disclosing the date, Rhodes eased some of the public's anxiety about the future of the case.
He presided over a nine-day trial that ended Nov. 8. Unions and pensions funds claim Detroit isn't eligible for bankruptcy because it failed to hold good-faith negotiations before the filing in July. The city, however, insists it did enough during the preceding four weeks.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
