Lawyers wrap case in Detroit bankruptcy trial - New York News

Lawyers wrap case in Detroit bankruptcy trial

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(WJBK) -

DETROIT (AP) - Attorneys have ended final arguments in a rare trial to determine whether Detroit can become the largest municipality to fix its finances in bankruptcy court.

The daylong remarks Friday for and against a Chapter 9 reorganization now will be sorted out by Judge Steven Rhodes. He could take days to make the decision.

Attorneys representing Michigan Gov. Rick Snyder and Detroit's emergency manager argue that the July filing came after careful, deliberate planning. They say it was a last resort after all options had been exhausted.

But retirees, unions and pension funds say Snyder and emergency manager Kevyn Orr had their sights on bankruptcy for months and didn't engage in good-faith negotiations. That's a key step in a government bankruptcy.

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