City retirees worry about pensions in bankruptcy ruling - New York News

City retirees worry about pensions in bankruptcy ruling

Posted: Updated:
(WJBK) -

Detroit is now hours away from finding out if it is eligible to file for Chapter 9 Bankruptcy. Judge Steve Rhodes has said he will announce his decision Tuesday at 10 a.m.

Judge Rhodes will answer the following questions in his ruling: Is Detroit insolvent? and, Did Detroit negotiate with its creditors in good faith before filing the bankruptcy? "Good faith" meaning a fair negotiation, and if the judge finds that it was impossible to bargain he can still allow the bankruptcy.

Unions and pensioners claim Detroit should not be eligible because the city failed to negotiate in good faith before the filing. The city denies those allegations.

"I never hesitated for one moment when I was working, and who would ever think it would've got to where we are now. I did my part I wish the city would do their part now," says Joe Wilson, a retired Detroit firefighter. He served for 31 years.


VIDEO: Click on the video player above to hear more from former Detroit firefighters in Fox 2's Randy Wimbley's report
 


Fox 2 will have extensive coverage of the ruling:

 + Tune in to Fox 2 News on your TV

 + Tune in to Fox 2 News on your tablet, computer or mobile device via our livestream inside the app or on www.myfoxdetroit.com

 + Click here to see live blog updates from inside the courtroom

 + Follow us on Twitter @Fox2News

  • Download the FOX 2 Apps


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

  • High-fiving strangers in NYC

    High-fiving strangers in NYC

    Tuesday, September 16 2014 6:01 PM EDT2014-09-16 22:01:29 GMT
    Looking for a taxi cab is a common sight in the city. For some people, an outstretched arm is usually the sign for hailing a cab. A few other folks see it as something else.Meet Meir Kalmanson. He sees a hand in the air as an opportunity to lighten up a person's serious or frantic state. Meir decided to high-five his way down Fifth Avenue. The video of his rebellion of social norms has gone viral.
    Looking for a taxi cab is a common sight in the city. For some people, an outstretched arm is usually the sign for hailing a cab. A few other folks see it as something else.Meet Meir Kalmanson. He sees a hand in the air as an opportunity to lighten up a person's serious or frantic state. Meir decided to high-five his way down Fifth Avenue. The video of his rebellion of social norms has gone viral.
  • Empire State Building Facebook review controversy

    Empire State Building Facebook review controversy

    Tuesday, September 16 2014 5:52 PM EDT2014-09-16 21:52:40 GMT
    When it comes to visiting New York City landmarks, half the fun is reviewing them afterward on social media sites like Facebook. But some folks say the Empire State Building is reporting their reviews as spam.
    When it comes to visiting New York City landmarks, half the fun is reviewing them afterward on social media sites like Facebook. But some folks say the Empire State Building is reporting their reviews as spam.
  • NY grand jury to weigh charges for Tony Stewart

    NY grand jury to weigh charges for Tony Stewart

    Tuesday, September 16 2014 3:43 PM EDT2014-09-16 19:43:05 GMT
    A grand jury will decide whether NASCAR driver Tony Stewart will be charged in the August death of a fellow driver at a sprint car race in upstate New York, a prosecutor said Tuesday. Ontario County District Attorney Michael Tantillo said he made the decision to present the case to a grand jury after reviewing evidence collected by county sheriff's investigators.
    A grand jury will decide whether NASCAR driver Tony Stewart will be charged in the August death of a fellow driver at a sprint car race in upstate New York, a prosecutor said Tuesday. Ontario County District Attorney Michael Tantillo said he made the decision to present the case to a grand jury after reviewing evidence collected by county sheriff's investigators.
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 | New Terms of Service What's new | Ad Choices