Snyder: Bankruptcy offers more certain path for Detroit creditor - FOX 13 News

Snyder: Bankruptcy offers more certain path for Detroit creditors

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  • Schuette endorses Detroit art deal in bankruptcy

    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
DETROIT (AP) -

Michigan's governor says Detroit's bankruptcy should offer a more certain path for creditors who don't know how much -- or whether -- they'll be paid.

Rick Snyder declared today that the process offers the once-mighty Motor City a chance to stop "60 years of decline."

Emergency financial manager Kevyn Orr says Detroit will continue to pay its bills and employees as city and state leaders confront the challenge of rebuilding the city's broken budget.

Bankruptcy could mean laying off employees, selling off assets, raising fees and scaling back basic services such as trash collection and snow plowing, which have already been slashed.

Bankruptcy documents say two public employee pension systems are the top unsecured creditors.

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  • Community wants justice as investigation of Armada teen's murder continues

    Community wants justice as investigation of Armada teen's murder continues

    Thursday, July 31 2014 5:40 PM EDT2014-07-31 21:40:23 GMT
    Wearing pink, the mother of 14-year-old April Millsap's boyfriend -- remembered the teen Thursday as the small village of Armada tries to cope."It's very hard, it's in such a spotlight, as a mom you don't think it's going to be like this," said Monique Albertson, mother of April Millsap's boyfriend. "Everyone is just hanging in there the best we can. It's overwhelming."Albertson, joining hundreds of people, police, classmates - most wearing pink which was April Millsap's favorite color."We're...
    Wearing pink, the mother of 14-year-old April Millsap's boyfriend -- remembered the teen Thursday as the small village of Armada tries to cope."It's very hard, it's in such a spotlight, as a mom you don't think it's going to be like this," said Monique Albertson, mother of April Millsap's boyfriend. "Everyone is just hanging in there the best we can. It's overwhelming."Albertson, joining hundreds of people, police, classmates - most wearing pink which was April Millsap's favorite color."We're...
  • Romulus cop in hot water after road rage incident

    Romulus cop in hot water after road rage incident

    Thursday, July 31 2014 4:47 PM EDT2014-07-31 20:47:41 GMT
    An off duty Romulus police officer is facing felony charges in connection with a road rage incident.Officer David Brooks is facing felonious assault and felony firearms charges after an investigation by Van Buren Township detectives.According to the report, police responded to a road rage incident between two trucks on I-94 in Belleville on May 29th.Van buren police pulled one of the trucks over which was driven by Brooks, and found a loaded handgun in the car.Brooks was released on personal ...
    An off duty Romulus police officer is facing felony charges in connection with a road rage incident.Officer David Brooks is facing felonious assault and felony firearms charges after an investigation by Van Buren Township detectives.According to the report, police responded to a road rage incident between two trucks on I-94 in Belleville on May 29th.Van buren police pulled one of the trucks over which was driven by Brooks, and found a loaded handgun in the car.Brooks was released on personal ...
  • SOURCES: Detroit Tigers acquire pitcher David Price

    SOURCES: Detroit Tigers acquire pitcher David Price

    Thursday, July 31 2014 4:46 PM EDT2014-07-31 20:46:10 GMT
    The Tigers have acquired pitcher David Price from the Rays in a three-team trade that reportedly involves the Mariners, according to reports. The clubs have not commented on or confirmed the report.  Jackson goes to Mariners; Smyly, Franklin also involved in three-way deal
    The Tigers have acquired pitcher David Price from the Rays in a three-team trade that reportedly involves the Mariners, according to reports. The clubs have not commented on or confirmed the report.  Jackson goes to Mariners; Smyly, Franklin also involved in three-way deal
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