Seeking Alpha

U.S. Bankruptcy Court Judge Steven Rhodes has set an initial bankruptcy hearing for Detroit for...

U.S. Bankruptcy Court Judge Steven Rhodes has set an initial bankruptcy hearing for Detroit for tomorrow, when the city will request that it receive federal court protection from lawsuits. Fearing that their benefits will be cut, Detroit retirees, workers and pension funds have already submitted three cases in state courts to try to stop the bankruptcy, although federal law usually trumps state law in bankruptcies.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)