Judge Rules on Detroit Bankruptcy

Detroit is insolvent and eligible for Chapter 9 bankruptcy, a federal judge ruled Tuesday.

U.S. Bankruptcy Judge Steven Rhodes’ decision sets the stage for a battle over pension reductions, the potential sale of assets and proposed cuts to creditors.

“The city needs help,” Rhodes said. “The city no longer has the resources to provide its residents with basic services.”


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2 thoughts on “Judge Rules on Detroit Bankruptcy

  1. This is going to be a side show and a half… Between the unions, pension plans and ‘city’ It’s going to make the lions vs. Christians in the Coliseum look like they were playing patty-cake…

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