Sources: Detroit expected to declare bankruptcy - New York News

Sources: Detroit expected to declare bankruptcy

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    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
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    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
DETROIT (WJBK) -

Sources tell Fox 2 news that the city of Detroit will declare bankruptcy, possibly as early as Friday.  Fox 2's Alexis Wiley is in the city working the story and will have a full report in the newscast starting at 5:00 p.m. 

Updates to this story will be made as more information becomes available.

Fox 2's Murray Feldman will have insight from experts, including information on how the bankruptcy impacts everyone in the metro Detroit area.

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