Detroit Judge Delays Bankruptcy Trial by Almost a Month
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Detroit’s court battle over its plan pay creditors less than they are owed in order to exit bankruptcy was delayed almost a month by the federal judge overseeing the case to give the parties more time to get ready.
U.S. Bankruptcy Judge Steven Rhodes in Detroit yesterday moved the start of the trial to Aug. 14 from July 16. The judge blamed the delay on the need to provide creditors with a large amount of information to prepare their cases against the city’s $18 billion debt-adjustment plan.