DETROIT (AP) — Objectors to a Detroit bankruptcy are confusing careful and deliberate planning by state officials with pursuing bankruptcy at all costs, attorneys representing Detroit's state-appointed manager argued Friday.
They "want to punish the governor and treasurer for contingency planning, for doing their jobs," said lawyer Matthew Schneider, the state's chief legal counsel. "This was never about predetermining a Chapter 9 filing. This was only about careful consideration."
Attorneys representing Detroit's state-appointed manager were making their final case on Friday to a federal judge who will determine if the city can fix its finances in bankruptcy. Final arguments are continuing throughout the day from the city, retiree groups, unions and pension funds.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
