Judge Begins First Hearing on Detroit Bankruptcy
DETROIT (AP) — Lawyers are crowded into a Detroit courtroom, for the first hearing in the city's bankruptcy case.
The city is hoping a judge will put a stop to lawsuits that seek to halt the bankruptcy process. The judge is being asked to decide whether city retirees can slow or stop that process by filing lawsuits in other courts.
Detroit is the largest U.S. city to file for bankruptcy protection. Gov. Rick Snyder signed off on the bankruptcy last week, calling it the only "feasible path" for a city whose population has plummeted to 700,000 from 1.8 million decades ago.
Pensioners are anxious. Retired police officer K.D. Bullock gets a monthly benefit of $2,400, and he's worried that the check will get smaller in bankruptcy.