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WIND ADVISORY IN EFFECT MONDAY

A Wind Advisory will be in effect for the entire Tri-State from 7am to 10pm Monday. Sustained winds will range between 25 and 35mph, and wind gusts may exceed 50 mph through Monday night.

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LOCAL 12 - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Judge: Detroit eligible for Chapter 9 bankruptcy

DETROIT (AP) -- A judge says Detroit is eligible to fix its finances in bankruptcy court.
   
The ruling Tuesday clears the way for the city to come up with a plan to shed $18 billion in debt. It comes four months after Detroit sought Chapter 9 protection in the largest public filing in U.S. history.
   
Detroit must propose a plan to Judge Steven Rhodes, although mediators have been meeting privately with the city and creditors with the hope of striking deals.
   
Unions and Detroit's public pension funds vigorously opposed bankruptcy during a nine-day trial. They claim emergency manager Kevyn Orr and his team didn't negotiate in good faith before the summer filing, a requirement for a government to be eligible to shed debts under Chapter 9.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
 

 

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