Detroit mayor, emergency manager talk bankruptcy approval for city
Judge Steven Rhodes ruled Tuesday that the city of Detroit is eligible to file for Chapter 9 bankruptcy in what the AP reports would be the largest public bankruptcy in U.S. history.
“The city needs help,” the judge said during his ruling, citing the city’s lack of resources to provide critical services.
The decision comes after a nine-day trial which aimed to determine whether Detroit qualified, under federal law, to stay in the bankruptcy court in an attempt to turn around its financial situation.
The Detroit Free Press has been following the day’s events surrounding the lead up to the ruling and its aftermath.