December 16 hearing set to consider Detroit bankruptcy appeals

[riky]

December 16 hearing set to consider Detroit bankruptcy appeals

<p><a href="http://news.yahoo.com/december-16-hearing-set-consider-detroit-bankruptcy-appeal-221446221--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/1JAjqXaQjY8urKHVtmYf9w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-12-09T221446Z_1_CBRE9B81PSQ00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A woman walks through the Midtown neighborhood of Detroit" align="left" title="A woman walks through the Midtown neighborhood of Detroit" border="0" /></a>The U.S. judge overseeing Detroit's bankruptcy on Monday set a hearing for December 16 to consider whether to expedite appeals of his ruling that declared Detroit eligible for bankruptcy protection, allowing the appeals to proceed straight to the U.S. 6th Circuit Court of Appeals. U.S. Bankruptcy Judge Steven Rhodes will hold a hearing at 10 a.m EST (1500 GMT) to take up requests from city unions, retirees and pension funds to avert the U.S. District Court for the Eastern District of Michigan and go to the appeals court. Last week, Rhodes ruled that Detroit, with $18.5 billion in debt, met federal requirements for bankruptcy protection primarily because it was insolvent and negotiations with its creditors were not practical.</p><br clear="all"/>

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