Creditors reach deadline to object to bankruptcy - New York News

Creditors reach deadline to object to bankruptcy

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  • Detroit BankruptcyMore>>

  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    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.
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    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.
  • $350 million on the table for Detroit, judge needed to approve Barclay's loan

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    Wednesday, November 6 2013 3:03 PM EST2013-11-06 20:03:18 GMT
    On Tuesday, the city of Detroit asked a federal judge to approve its deal to borrow up to $350 million to help the city pay off some of its debts and to provide city services.
    On Tuesday, the city of Detroit asked a federal judge to approve its deal to borrow up to $350 million to help the city pay off some of its debts and to provide city services.

By COREY WILLIAMS
Associated Press

DETROIT (AP) -- The deadline has arrived for creditors to oppose Detroit's request for bankruptcy protection.

Judge Steven Rhodes set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit emergency manager Kevyn Orr.

Creditors include bond holders, insurers, banks, employee pension funds, individuals and companies that provided services.

Orr says Detroit is insolvent and unable to pay off the debt, which could be $18 billion or more. A residents' group told reporters Monday that it objects to Orr's authority as an unelected official to take the city into bankruptcy. The group is being advised by a former city attorney.

Detroit has until Sept. 6 to respond to objections. A trial is set for Oct. 23.

Detroit is the largest U.S. city to seek bankruptcy protection.

  • Local NewsLocal NewsMore>>

  • German Shepherd called to jury duty

    German Shepherd called to jury duty

    Wednesday, April 16 2014 6:16 PM EDT2014-04-16 22:16:16 GMT
    At least one prospective juror in New Jersey could take a bite out of crime. Cumberland County has summoned IV Griner to jury duty. The only problem is IV is a 5-year-old German Shepherd.
    At least one prospective juror in New Jersey could take a bite out of crime. Cumberland County has summoned IV Griner to jury duty. The only problem is IV is a 5-year-old German Shepherd.
  • New SAT: What will those questions look like?

    New SAT: What will those questions look like?

    Wednesday, April 16 2014 5:05 PM EDT2014-04-16 21:05:28 GMT
    Calculate the foreign exchange rate a vacationing American would pay in India. Estimate from a random sample the number of 18- to 34-year olds who voted for a candidate. These are sample questions from the newly redesigned SAT, which aims for more real-world applications and analysis from students.
    Calculate the foreign exchange rate a vacationing American would pay in India. Estimate from a random sample the number of 18- to 34-year olds who voted for a candidate. These are sample questions from the newly redesigned SAT, which aims for more real-world applications and analysis from students.
  • Pizza man attacked, shoots would-be robber

    Pizza man attacked, shoots would-be robber

    Wednesday, April 16 2014 4:34 PM EDT2014-04-16 20:34:37 GMT
    New York State NewsNew York State News
    This guy packs more than pepperoni. Police say a masked robber is in the hospital after a pizza delivery man shot at a gang of would-be thieves. Police tell local media outlets that the delivery man brought a pizza to a house around 10:30 p.m. Monday and was met in the front hallway by a man wearing a mask and hoodie.
    This guy packs more than pepperoni. Police say a masked robber is in the hospital after a pizza delivery man shot at a gang of would-be thieves. Police tell local media outlets that the delivery man brought a pizza to a house around 10:30 p.m. Monday and was met in the front hallway by a man wearing a mask and hoodie.
  • Local NewsLocal NewsMore>>

  • GM looking to bankruptcy court for lawsuit protection

    GM looking to bankruptcy court for lawsuit protection

    Wednesday, April 16 2014 6:14 PM EDT2014-04-16 22:14:09 GMT
    General Motors says it will ask a federal bankruptcy judge to shield the company from legal claims involving conduct before its 2009 bankruptcy.
    General Motors says it will ask a federal bankruptcy judge to shield the company from legal claims involving conduct before its 2009 bankruptcy.
  • Oakland Co. fighting the growing heroin epidemic

    Oakland Co. fighting the growing heroin epidemic

    Wednesday, April 16 2014 5:44 PM EDT2014-04-16 21:44:13 GMT
    A heroin epidemic is spreading across metro Detroit communities. Oakland County Sheriff Michael Bouchard says cases are up more than 300 percent from last year, and that appears to be the trend everywhere.
    A heroin epidemic is spreading across metro Detroit communities. Oakland County Sheriff Michael Bouchard says cases are up more than 300 percent from last year, and that appears to be the trend everywhere.
  • Jayru Campbell readmitted to Cass Tech

    Jayru Campbell readmitted to Cass Tech

    Wednesday, April 16 2014 5:41 PM EDT2014-04-16 21:41:37 GMT
    A spokesperson for Detroit Public Schools announced Wednesday afternoon Jayru Campbell has been readmitted to Cass Tech.
    A spokesperson for Detroit Public Schools announced Wednesday afternoon Jayru Campbell has been readmitted to Cass Tech.
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