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Judge denies delaying Detroit debt process

A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013.
Credit: Reuters/ Rebecca Cook
A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013. Credit: Reuters/ Rebecca Cook

DETROIT (WKZO) -- U.S. Bankruptcy Judge Steven Rhodes has refused to delay the process of approving Detroit's debt-cutting plan.

Tuesday, Rhodes refused the delay, arguing the city would run out of cash if the process takes too long. Following a hearing, the judge filed a written order keeping Detroit's bankruptcy on track for a June 16th trial.

Creditors urged Rhodes to delay the process, saying the city's reorganization plan was still missing crucial information. Detroit must prove it can accomplish a plan to shed its debt and end the largest municipal bankruptcy case in U.S. history.

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