Judge reschedules trial on Detroit bankruptcy plan - FOX 35 News Orlando

Judge reschedules trial on Detroit bankruptcy plan

Posted: Updated:

DETROIT (AP) - A judge has pushed back the trial date on Detroit's plan to emerge from bankruptcy by one month.

U.S. Bankruptcy Judge Steven Rhodes set an updated series of deadlines Thursday, including a July 16 trial date. The trial previously had been set for June 16, and the new schedule offers more time for all sides to negotiate and resolve disputes before then.

The blueprint from state-appointed emergency manager Kevyn Orr for Detroit's restructuring and debt removal calls for the city to spend $1.5 billion over 10 years to remove blighted properties, upgrade public-safety equipment and technology and make other improvements.

Meanwhile, the Detroit Free Press reports that the city on Thursday reached a new deal with Barclays to borrow $120 million to speed the restructuring and invest in services.

  • Local NewsLocal NewsMore>>

  • General Motors profit declines 85% in 2Q

    General Motors profit declines 85% in 2Q

    Thursday, July 24 2014 7:43 AM EDT2014-07-24 11:43:10 GMT
     General Motors says second-quarter profit fell 85 percent as recall costs chopped $1.5 billion from the bottom line.
     General Motors says second-quarter profit fell 85 percent as recall costs chopped $1.5 billion from the bottom line.
  • Police: Body found in Detroit manhole

    Police: Body found in Detroit manhole

    Thursday, July 24 2014 7:42 AM EDT2014-07-24 11:42:23 GMT
    Police say a body has been found in a manhole on Detroit's west side.
    Police say a body has been found in a manhole on Detroit's west side.
  • Board to consider minimum wage, wolf ballot issues

    Board to consider minimum wage, wolf ballot issues

    Thursday, July 24 2014 7:16 AM EDT2014-07-24 11:16:35 GMT
    Michigan's elections board will consider whether supporters of a minimum wage increase and wolf hunting collected enough voter signatures for proposals to advance to legislators and possibly a statewide vote.
    Michigan's elections board will consider whether supporters of a minimum wage increase and wolf hunting collected enough voter signatures for proposals to advance to legislators and possibly a statewide vote.
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

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