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A Few More Days Left in Detroit Bankruptcy Trial

A Few More Days Left in Detroit Bankruptcy Trial

A trial to determine if Detroit is eligible to turn its finances around in bankruptcy court should end Thursday or Friday.

Lawyers made the disclosure Monday, the sixth day of trial. Detroit filed for Chapter 9 protection in July, but a judge first must determine if the city met key steps to be eligible to try shedding billions in debt.

A main objection is whether Detroit held "good-faith" negotiations with certain creditors before the filing. Unions and pension funds say no.

Emergency manager Kevyn Orr finished his testimony Monday. The judge also heard from union official Steve Kreisberg, who attended meetings with city officials but says they weren't for negotiations.

 

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