A look at the next steps for Detroit - myfoxcarolinas.com

A look at the next steps for Detroit

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  • Detroit BankruptcyMore>>

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    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

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    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
DETROIT (AP) -

Detroit became the largest U.S. city to file for bankruptcy, raising a flurry of questions about what happens next. Here's a look at what's known about the next steps:

WILL THE LIGHTS GO OUT?

The city's emergency manager, Kevyn Orr, says the city will be open and bills will be paid. And it can do things like keep police on the streets, firefighters on duty and water running. The question is whether these services will be cut later.

HOW LONG WILL IT TAKE?

Detroit is by far the largest city to file for municipal bankruptcy, and because it is, the timeframe for the case isn't known. It could take years to resolve.

WHAT HAPPENS IN COURT?

A bankruptcy judge will be appointed to oversee the case. The city will have to come forward with a list of its creditors and how much it owes them. That wasn't included in the initial Chapter 9 filing. It will also have to prove that it can't pay its bills. Orr has said previously that the city wasn't going to pay some of its debt.

A judge also will likely stay lawsuits against the city. Bankruptcy could change pension and retiree benefits, which are guaranteed under state law.

WHAT WILL THE JUDGE DO?

If the bankruptcy filing is approved, city assets could be liquidated to satisfy demands for payment. The city would propose a reorganization plan. The wide-ranging plan could include anything from selling assets, layoffs, changing union contracts and more. Then, the city would need the support of creditors to emerge from bankruptcy.

  • Local NewsLocal NewsMore>>

  • Livonia man dies after 2 dogs attack him

    Livonia man dies after 2 dogs attack him

    Thursday, July 24 2014 3:49 PM EDT2014-07-24 19:49:30 GMT
    A 46-year-old Livonia man was killed Wednesday evening after he was attacked by two dogs while jogging in Metamora.
    A 46-year-old Livonia man was killed Wednesday evening after he was attacked by two dogs while jogging in Metamora.
  • Council considering land deal for US-Canada bridge

    Council considering land deal for US-Canada bridge

    Thursday, July 24 2014 3:48 PM EDT2014-07-24 19:48:33 GMT
    The Detroit City Council is considering the transfer of 301 city-owned properties to the Michigan Land Bank in exchange for $1.4 million from the Canadian government as part of plans for a $2 billion international commuter bridge.
    The Detroit City Council is considering the transfer of 301 city-owned properties to the Michigan Land Bank in exchange for $1.4 million from the Canadian government as part of plans for a $2 billion international commuter bridge.
  • Porch shooter: I didn't know gun was loaded

    Porch shooter: I didn't know gun was loaded

    Thursday, July 24 2014 12:48 PM EDT2014-07-24 16:48:56 GMT
    A suburban Detroit man who killed an unarmed woman on his porch immediately suggested to police it was an accident and that he didn't know his shotgun was loaded, according to recorded remarks played in court Thursday.
    A suburban Detroit man who killed an unarmed woman on his porch immediately suggested to police it was an accident and that he didn't know his shotgun was loaded, according to recorded remarks played in court Thursday.
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