Judge Rhodes releases opinion on Detroit bankruptcy decision - New York News

Judge Rhodes releases his opinion on Detroit bankruptcy decision

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DETROIT (AP) -- Two days later, a judge is elaborating on his decision to let Detroit stay in bankruptcy by releasing an opinion of more than 140 pages.

Federal bankruptcy Judge Steven Rhodes made his historic ruling from the bench Tuesday. But he also promised to give a written opinion, a key step in a case that will be appealed.
 
Rhodes starts his opinion Thursday with a quote from the U.S. Constitution that says Congress has the power to set the bankruptcy rules across the U.S. He says federal law trumps a provision in the Michigan Constitution that protects public pensions.

Rhodes says the pensions of Detroit retirees are just like other contracts that can be broken in bankruptcy. Detroit says pensions are underfunded by $3.5 billion. Unions and pension funds are appealing.

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