Analyst grilled on 2nd day of bankruptcy trial - New York News

Analyst grilled on 2nd day of bankruptcy trial

Posted: Updated:
  • Detroit BankruptcyMore>>

  • 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

    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.
  • 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) -

A financial analyst who studied Detroit's books is back on the witness stand facing cross-examination in the city's bankruptcy trial.

A lawyer for a city employee union is going over documents that identified city-owned assets that could be used to possibly raise money.

Gaurav Malhotra of Ernst & Young is the first witness in the trial, which will determine whether Detroit is eligible to shed debts and turn itself around under Chapter 9 of the bankruptcy law.

Judge Steven Rhodes must decide whether the city is broke and whether it negotiated in good faith with creditors before filing in July. Unions and pension funds are opposed.

Police Chief James Craig is expected to testify about the impact of Detroit's poor finances on public safety.

  • Local NewsLocal NewsMore>>

  • City of Detroit posts improvement updates online

    City of Detroit posts improvement updates online

    Thursday, July 31 2014 7:18 AM EDT2014-07-31 11:18:29 GMT
    Residents will be able to view the number of new streetlights installed in their Detroit neighborhood, how many lots were mown and the number of vacant houses demolished by going to the city's website.
    Residents will be able to view the number of new streetlights installed in their Detroit neighborhood, how many lots were mown and the number of vacant houses demolished by going to the city's website.
  • Community comes together to support slain Armada teen's family

    Community comes together to support slain Armada teen's family

    Wednesday, July 30 2014 11:55 PM EDT2014-07-31 03:55:10 GMT
    Nearly a week after 14-year-old April Millsap was found murdered in the small town of Armada, friends, family and even those who didn't know the young girl gather for music in the park - this time hoping for justice.They were there to help raise money to ease the burden on April's heartbroken mother."We're as well as can be expected," said aunt Sarah Lichtenfelt. "They are just grateful for all the prayers and support, that's all we ask is to keep praying for strength."In the middle of it all...
    Nearly a week after 14-year-old April Millsap was found murdered in the small town of Armada, friends, family and even those who didn't know the young girl gather for music in the park - this time hoping for justice.They were there to help raise money to ease the burden on April's heartbroken mother."We're as well as can be expected," said aunt Sarah Lichtenfelt. "They are just grateful for all the prayers and support, that's all we ask is to keep praying for strength."In the middle of it all...
  • Family asks for justice after mother of three found dead next to dumpster

    Family asks for justice after mother of three found dead next to dumpster

    Wednesday, July 30 2014 11:33 PM EDT2014-07-31 03:33:46 GMT
    When 32-year-old Katherine Gibson was a little girl, her loved ones thought, the "life" ahead of her would be long. But it wasn't."Me and my girlfriend dropped her off and she had just told us, she loved us," said Marvin Gibson, her cousin.That would be the last "I love you" that he would hear. because after Gibson's cousin dropped her off at Harper and Conner, near Bronco's Market. The day after, she was found dead. Gibson's lifeless body, discovered by a dumpster, beside the building."Layin...
    When 32-year-old Katherine Gibson was a little girl, her loved ones thought, the "life" ahead of her would be long. But it wasn't."Me and my girlfriend dropped her off and she had just told us, she loved us," said Marvin Gibson, her cousin.That would be the last "I love you" that he would hear. because after Gibson's cousin dropped her off at Harper and Conner, near Bronco's Market. The day after, she was found dead. Gibson's lifeless body, discovered by a dumpster, beside the building."Layin...
  • Download the FOX 2 Apps


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

  • Teen pleads guilty in 1 World Trade Center climb

    Teen pleads guilty in 1 World Trade Center climb

    A teenager who made a surreptitious climb to the top of the 1 World Trade Center tower has pleaded guilty in an escapade that fanned concerns about security at the nation's tallest building.
    A teenager who made a surreptitious climb to the top of the 1 World Trade Center tower has pleaded guilty in an escapade that fanned concerns about security at the nation's tallest building.
  • Summit at City Hall to discuss police-community relations

    Summit at City Hall to discuss police-community relations

    Thursday, July 31 2014 7:29 AM EDT2014-07-31 11:29:54 GMT
    Ways to improve the relationship between the NYPD and communities in New York City will be at the center of a summit held at City Hall on Thursday. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders are expected to attend the round table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island lead Mayor De Blasio to host the forum.
    Ways to improve the relationship between the NYPD and communities in New York City will be at the center of a summit held at City Hall on Thursday. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders are expected to attend the round table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island lead Mayor De Blasio to host the forum.
  • Healthy food pilot program launched in Connecticut

    Healthy food pilot program launched in Connecticut

    An online marketplace for farmers markets and a nonprofit Connecticut health insurance company are launching a new program to bring local, fresh food to Fairfield County residents.
    An online marketplace for farmers markets and a nonprofit Connecticut health insurance company are launching a new program to bring local, fresh food to Fairfield County residents.
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