Creditors reach deadline to object to bankruptcy - FOX 29 News Philadelphia | WTXF-TV

Creditors reach deadline to object to bankruptcy

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  • Schuette endorses Detroit art deal in bankruptcy

    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.
  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    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.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    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.

  • Local NewsLocal NewsMore>>

  • Benefit for injured Grosse Pointe Park Police officer

    Benefit for injured Grosse Pointe Park Police officer

    Friday, July 25 2014 12:18 PM EDT2014-07-25 16:18:15 GMT
    48-year-old Keith Andersen retired in February from the Grosse Pointe Park Police Department. On June 21, he was involved in a roll over accident where he suffered a broken neck. As of now Keith has no movement in his the lower half of his body. The Fraternal Order of Police, Grosse Pointe Lodge 102 is holding a fundraiser for Keith on Aug 5th. Amy Lange will have a full report on Fox 2 News at 5:00 p.m.
    48-year-old Keith Andersen retired in February from the Grosse Pointe Park Police Department. On June 21, he was involved in a roll over accident where he suffered a broken neck. As of now Keith has no movement in his the lower half of his body. The Fraternal Order of Police, Grosse Pointe Lodge 102 is holding a fundraiser for Keith on Aug 5th. Amy Lange will have a full report on Fox 2 News at 5:00 p.m.
  • Teenager's body discovered in wooded area in Armada

    Teenager's body discovered in wooded area in Armada

    Friday, July 25 2014 10:37 AM EDT2014-07-25 14:37:19 GMT
    Police in Armad Township tell Fox 2's Roop Raj that the body of a 14-year-old female teen has been found in a wooded area near a recreational trail in the Macomb County village of Armada.
    Police in Armad Township tell Fox 2's Roop Raj that the body of a 14-year-old female teen has been found in a wooded area near a recreational trail in the Macomb County village of Armada.
  • Judge rules Warren Evans can stay on the ballot

    Judge rules Warren Evans can stay on the ballot

    Friday, July 25 2014 10:16 AM EDT2014-07-25 14:16:52 GMT
    A judge ruled Friday, Warren Evans will stay on the August primary ballot for Wayne County Executive.
    A judge ruled Friday, Warren Evans will stay on the August primary ballot for Wayne County Executive.
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