Snyder: Bankruptcy offers more certain path for Detroit creditor - New York News

Snyder: Bankruptcy offers more certain path for Detroit creditors

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  • Schuette endorses Detroit art deal in bankruptcy

    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
  • Detroit files plan to fix debt, leave bankruptcy

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    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    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.
    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 (AP) -

Michigan's governor says Detroit's bankruptcy should offer a more certain path for creditors who don't know how much -- or whether -- they'll be paid.

Rick Snyder declared today that the process offers the once-mighty Motor City a chance to stop "60 years of decline."

Emergency financial manager Kevyn Orr says Detroit will continue to pay its bills and employees as city and state leaders confront the challenge of rebuilding the city's broken budget.

Bankruptcy could mean laying off employees, selling off assets, raising fees and scaling back basic services such as trash collection and snow plowing, which have already been slashed.

Bankruptcy documents say two public employee pension systems are the top unsecured creditors.

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  • Summit at City Hall on police-community relations

    Summit at City Hall on police-community relations

    Thursday, July 31 2014 1:20 PM EDT2014-07-31 17:20:15 GMT
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
  • Workers trapped in trench collapse

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    Thursday, July 31 2014 1:19 PM EDT2014-07-31 17:19:38 GMT
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
  • Woman plunges to death over cliff in Catskills

    Woman plunges to death over cliff in Catskills

    Thursday, July 31 2014 12:57 PM EDT2014-07-31 16:57:07 GMT
    New York State NewsNew York State News
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
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  • Evan Reed arraigned on sexual assault charges

    Evan Reed arraigned on sexual assault charges

    Thursday, July 31 2014 12:42 PM EDT2014-07-31 16:42:51 GMT
    Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
    Minor league pitcher Evan Reed has been arraigned on charges of sexually assaulting a woman at a downtown Detroit hotel.
  • Two in custody on drug charges after search connected to Armada teen's murder

    Two in custody on drug charges after search connected to Armada teen's murder

    Thursday, July 31 2014 12:17 PM EDT2014-07-31 16:17:30 GMT
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
    The FBI and state police were at a home on Marquette Road in Goodells, Mich. most of Wednesday executing an investigative search warrant related to the murder of 14-year-old April Millsap.
  • 24-year-old women is $66 million jackpot winner

    24-year-old women is $66 million jackpot winner

    Thursday, July 31 2014 11:26 AM EDT2014-07-31 15:26:09 GMT
    The Michigan Lottery says a Port Huron woman is the winner of a $66 million Mega Millions jackpot that was drawn in mid-June.Kelsey Zachow says in a statement that she "could barely breathe" when she learned she was the winner.
    The Michigan Lottery says a Port Huron woman is the winner of a $66 million Mega Millions jackpot that was drawn in mid-June.Kelsey Zachow says in a statement that she "could barely breathe" when she learned she was the winner.
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