Creditors reach deadline to object to bankruptcy - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Creditors reach deadline to object to bankruptcy

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  • Detroit BankruptcyMore>>

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    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
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    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
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    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.

By COREY WILLIAMS
Associated Press

DETROIT (AP) -- The deadline has arrived for creditors to oppose Detroit's request for bankruptcy protection.

Judge Steven Rhodes set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit emergency manager Kevyn Orr.

Creditors include bond holders, insurers, banks, employee pension funds, individuals and companies that provided services.

Orr says Detroit is insolvent and unable to pay off the debt, which could be $18 billion or more. A residents' group told reporters Monday that it objects to Orr's authority as an unelected official to take the city into bankruptcy. The group is being advised by a former city attorney.

Detroit has until Sept. 6 to respond to objections. A trial is set for Oct. 23.

Detroit is the largest U.S. city to seek bankruptcy protection.

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  • Jury acquits man in Eastern Michigan football player death

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    A jury has acquitted a man in the robbery-slaying of Eastern Michigan University football player Demarius Reed.
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    A Dearborn woman is dead and her own brother is behind bars charged with her murder.What happened in the 7500 block of Bingham street Saturday, still has neighbors wondering, 'why.'"I wept, I cried, it's horrible," said neighbor Virginia Leonard.A brother allegedly strangled his own sister, stabbed her several times, and eventually killing her"I'm sure it's a very horrible thing for that family," Leonard said. "Not only did the parents lose a daughter, they lost basically a son too, and it's ...
  • Charges to be determined after teen dies in car crash

    Charges to be determined after teen dies in car crash

    Monday, July 28 2014 7:59 PM EDT2014-07-28 23:59:07 GMT
    Seven teenagers were on their way back from a bonfire late Friday night. A 16-year-old girl was behind the wheel of the Ford Expedition with her mom also in the car.
    Seven teenagers were on their way back from a bonfire late Friday night. A 16-year-old girl was behind the wheel of the Ford Expedition with her mom also in the car.
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