Judge approves Detroit’s plan to exit bankruptcy

November 7, 2014

Business, Did you know?

Judge approves Detroit’s plan to exit bankruptcy

By Monica Davey and Mary Williams Walsh
The New York Times

DETROIT — Less than 16 months after Detroit became the largest city in the United States to file for bankruptcy, a federal judge on Friday approved a plan intended to help it escape years of financial ruin and begin the hard work of becoming viable again.

Judge Steven W. Rhodes of the United States Bankruptcy Court for the Eastern District of Michigan found that the city’s plan to shed $7 billion in debt and to invest about $1.7 billion into long-neglected services was fair, feasible and in the best interest of Detroit’s creditors. The decision came with remarkable speed and with far less discord than many had foreseen given the size of the city and the complexity and depth of its financial woes.

See entire article:
http://www.nytimes.com/2014/11/08/us/detroit-bankruptcy-plan-ruling.html

________
DetroitRecovery
________
Video:Portrait of a City – Detroit 1961

________
Video: 1965 Detroit City On The Move
Part 1 of 6

________
Video: 1965 Detroit City On The Move
Part 2 of 6

________
Video: 1965 Detroit City On The Move
Part 3 of 6

________
Video: 1965 Detroit City On The Move
Part 4 of 6

________
Video: 1965 Detroit City On The Move
Part 5 of 6

________
Video: 1965 Detroit City On The Move
Part 6 of 6

________

See Related article:
Detroit elects its first white mayor in 40 years-Mike Duggan

https://dilemma-x.net/2013/11/06/detroit-elects-its-first-white-mayor-in-40-years-mike-duggan/

About Dilemma X

Dilemma X, LLC provides research dedicated to the progression of economic development. Our services aid clients in enhancing overall production statistics. Please visit http://www.dilemma-x.com for more information

View all posts by Dilemma X

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: