‘ Detroit’s Bankruptcy Hearing Resumes ‘

#AceFinanceNews – DETROIT – September 29 – Testimony is to resume this morning in the hearings on Detroit’s bid to get out of bankruptcy, and the federal judge overseeing the case is expected to rule on a request that he order Detroit’s water department to enact a six-month pause in shutting off service over unpaid bills.

U.S. Bankruptcy Judge Steven Rhodes also is likely to hear updates from city lawyers about the agreement reached last week to keep emergency manager Kevyn Orr on the job until the bankruptcy exit strategy is approved, yet restore power to run city government to Mayor Mike Duggan and the City Council.

During a meeting of the city’s financial advisory board on Friday, Orr outlined the arrangement that will keep him in charge of shepherding Detroit through the final stages of its bankruptcy.

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