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

Analyst grilled on 2nd day of bankruptcy trial

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

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

    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.
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>>

  • Former "Howard Stern Show" sidekick Artie Lange hospitalized in Royal Oak

    Former "Howard Stern Show" sidekick Artie Lange hospitalized in Royal Oak

    Wednesday, April 16 2014 9:07 PM EDT2014-04-17 01:07:22 GMT
    Former "Howard Stern Show" co-hostArtie Lange is in town for an extended stay, but the circumstances are a little puzzling.Lange posted on his Twitter page this week he's been hospitalized "outside Detroit" after going into diabetic shock. Several other Twitter posts were removed from his page Wednesday, including one that suggested he was being held against his willin thehospital's psychiatric ward.Lange was scheduled to perform last Saturday at the Royal Oak Music Theatre.Artie Lange has be...
    Former "Howard Stern Show" co-hostArtie Lange is in town for an extended stay, but the circumstances are a little puzzling.Lange posted on his Twitter page this week he's been hospitalized "outside Detroit" after going into diabetic shock. Several other Twitter posts were removed from his page Wednesday, including one that suggested he was being held against his willin thehospital's psychiatric ward.Lange was scheduled to perform last Saturday at the Royal Oak Music Theatre.Artie Lange has be...
  • Parents unhappy with how principal enforces junk food policy

    Parents unhappy with how principal enforces junk food policy

    Wednesday, April 16 2014 8:57 PM EDT2014-04-17 00:57:32 GMT
    Parents of students at T. Dale Cooke Elementary school in Detroit say the principal is enforcing students to eat healthy in the wrong way.
    Parents of students at T. Dale Cooke Elementary school in Detroit say the principal is enforcing students to eat healthy in the wrong way.
  • Freedom from Religion debate heats up at Warren City Hall

    Freedom from Religion debate heats up at Warren City Hall

    Wednesday, April 16 2014 7:12 PM EDT2014-04-16 23:12:16 GMT
    Is Freedom of Religion the same concept as Freedom from Religion? That's the debate one Warren resident is raising at City Hall.
    Is Freedom of Religion the same concept as Freedom from Religion? That's the debate one Warren resident is raising at City Hall.
  • Download the FOX 2 Apps


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

  • Baby found in teen's shopping bag called homicide

    Baby found in teen's shopping bag called homicide

    Wednesday, April 16 2014 8:47 PM EDT2014-04-17 00:47:23 GMT
    The New York City medical examiner has ruled that the death of a baby found in a teenager's shopping bag was a homicide.
    The New York City medical examiner has ruled that the death of a baby found in a teenager's shopping bag was a homicide.
  • Chelsea Clinton: I might run for office

    Chelsea Clinton: I might run for office

    Wednesday, April 16 2014 8:36 PM EDT2014-04-17 00:36:50 GMT
    Chelsea Clinton says she might run for office someday - if she becomes dissatisfied with the job her elected representatives are doing.
    Chelsea Clinton says she might run for office someday - if she becomes dissatisfied with the job her elected representatives are doing.
  • NJ mom charged with trying to kill her 3 teens

    NJ mom charged with trying to kill her 3 children

    Wednesday, April 16 2014 8:25 PM EDT2014-04-17 00:25:35 GMT
    A southern New Jersey woman is in custody on charges she tried to kill her three children by driving her car into the Delaware River.
    A southern New Jersey woman is in custody on charges she tried to kill her three children by driving her car into the Delaware River.
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