DETROIT (AP) — Lawyers for Detroit will attempt to convince a federal judge at the city’s bankruptcy trial that its plans to wipe out billions of dollars in debt should be approved.
After some delays, the start of the trial Tuesday in U.S. District Court comes just over 13 months after Detroit became the largest U.S. city to file for bankruptcy. Detroit expects to cut $12 billion in unsecured debt to about $5 billion, which is “more manageable,” according to Bill Nowling, a spokesman for emergency manager Kevyn Orr. Continue reading “Detroit’s historic bankruptcy trial to begin”

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