Trial starts; Is Detroit eligible for bankruptcy? - New York News

Trial starts; Is Detroit eligible for bankruptcy?

Posted: Updated:
Detroit skyline Detroit skyline
(WJBK) -

DETROIT (AP) - A lawyer says Detroit will present a "mountain of evidence" to show the city is insolvent and deserves to turn itself around in bankruptcy court.

An extraordinary trial opened Wednesday in Detroit's 3-month-old bankruptcy, the largest public filing in U.S. history. The city must show it cleared certain hurdles to be eligible to restructure as much as $18 billion in debt.

One of those critical steps is proof of good-faith negotiations with creditors before bankruptcy became the choice in July. Unions and pension funds will argue that Detroit flunked that requirement.

In his opening remarks, city attorney Bruce Bennett says he could "stand here for hours" describing Detroit's ruinous finances.

Outside the courthouse, dozens of people protested against possible pension cuts.

Tune in to Fox 2 News at 5 and 6 p.m. for the latest information on today's court hearing.

 

The Associated Press contributed to this report.

  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Hundreds celebrate Easter at St. Patricks Cathedral

    Hundreds celebrate Easter at St. Patricks Cathedral

    Saturday, April 19 2014 10:37 PM EDT2014-04-20 02:37:51 GMT
    Hundreds of people showed up to Saturday's mass at St. Patricks Cathedral to celebrate Easter, one of the holiest days for Christians around the world.
    Hundreds of people showed up to Saturday's Mass at St. Patricks Cathedral to celebrate Easter, one of the holiest days for Christians around the world.
  • NYC police investigating body in plastic container

    NYC police investigating body in plastic container

    Police in New York City are questioning a suspect after discovering a dead body stuffed into a large, black plastic storage container.
    Police in New York City are questioning a suspect after discovering a dead body stuffed into a large, black plastic storage container.
  • Governor kicks off 114th annual New York International Auto Show

    Governor kicks off 114th annual New York International Auto Show

    Saturday, April 19 2014 7:00 PM EDT2014-04-19 23:00:18 GMT
    Auto fans you may already know this the 114th New York International Automobile Show is in town this week. Governor Cuomo was on hand Saturday to kick off the official opening of the 10 day event by driving a 2015 Chevrolet Corvette convertible through the Jacob Javits Convention Center.
    Auto fans you may already know this the 114th New York International Automobile Show is in town this week. Governor Cuomo was on hand Saturday to kick off the official opening of the 10 day event by driving a 2015 Chevrolet Corvette convertible through the Jacob Javits Convention Center.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices