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Detroit's bankruptcy filing faces possible rejection
Posted By -NO AUTHOR- On 11/15/2013 @ 5:40 pm In Money,Politics,U.S. | No Comments
(HotAir) Back in July, the city of Detroit filed for the largest municipal bankruptcy in United States’ history, with the city owing more than $18 billion in debt and liabilities following decades of purely blue leadership.
The city’s appointed financial managers have already gotten to work on digging the city out of the massive hole into which it dug itself over the years, but not without the requisite challenges and lawsuits from unions and pension funds irate about the major losses that are going to be foisted upon everyone involved — and all of the work the city has done so far to save itself could be undone if a federal judge decides that Detroit is actually ineligible for Chapter 9 bankruptcy after all.
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