Detroit’s long-term fiscal recovery plan was approved Friday by a bankruptcy judge and calls for $1.7 billion to remove blight and fix city services over the next 10 years.
Judge Steven Rhodes approved Detroit’s plan to get out of bankruptcy, ending the largest public filing in U.S. history on Friday. Here’s a look at the events leading up to that decision.
Judge Steven Rhodes said he’s striking portions of a court filing by Syncora, a bond insurer that could lose millions of dollars in a trial that starts next week.
The tour, which was said to take just over three hours, covering 58 miles of a variety of the city’s areas, came ahead of bankruptcy confirmation hearings.
A judge overseeing Detroit’s bankruptcy is getting an earful from retirees who are opposed to the city’s plan to get back on its feet.
Flint, too, also has suffered a spectacular drop in population and factory jobs and a corresponding rise in property abandonment.
Thousands of Detroit retirees and city employees must have their ballots on the city’s plan of adjustment in the bankruptcy case turned in this week.
Experts are looking at ways for the cash strapped city to raise money have suggested increasing fines, and going after parking deadbeats.
“I want to say to everyone whose a resident of the city, no one is more aware of the hardship that this is going to cause to a number of different people than me,” Kevyn Orr said.
Federal Judge Steven Rhodes has ruled that, under law, pensions can be cut in Detroit’s bankruptcy.