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Mich. Treasurer Questioned By Bankruptcy Lawyers

LANSING (WWJ/AP) – Lawyers for union workers and retirees opposing Detroit’s bankruptcy filing have completed a deposition of Michigan Treasurer Andy Dillon.

Dillon was questioned behind closed doors for more than three hours Thursday in Lansing.

Gov. Rick Snyder, who waived executive privileged, was deposed Wednesday and asked about retiree pensions and if Detroit could have done more to avoid the July 18 bankruptcy petition by state-appointed emergency manager Kevyn Orr.

After Snyder’s deposition, union attorney Sharon Levine complimented Snyder for stepping forward but told reporters that he wasn’t always forthcoming. She said he sometimes couldn’t recall things and at other times refused to answer questions that might reveal advice he got from his own lawyers.

Dillon said Thursday in a statement that “the decision to seek bankruptcy protection was not an easy one but was determined to be the only remaining way to address Detroit’s long-running financial crisis.”

Their testimony can be used as evidence in an upcoming trial, set to begin later this month, that will determine whether Detroit is eligible to shed or restructure at least $18 billion in debt in U.S. Bankruptcy Court.

Orr, who in July filed for bankruptcy on behalf of the city, has estimated Detroit’s long-term debt at a staggering $18 billion.

[Detroit Bankruptcy: Continuing Coverage]

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