Snyder testifying about Detroit bankruptcy call - myfoxcarolinas.com

Snyder testifying about Detroit bankruptcy call

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LANSING, Mich. (AP) -

Michigan Gov. Rick Snyder is testified under oath in a deposition about the decision to put Detroit in bankruptcy court.

The rare deposition of a governor began in private Wednesday morning in the Cabinet Room at his offices in Lansing. It could last up to three hours, though restroom breaks or time needed to speak with counsel doesn't count against the time limit.

The Republican governor's answers to questions from labor unions and other creditors could be used in a few weeks when a judge holds a trial to determine if Detroit is eligible to shed or restructure billions in debts.

Critics say Detroit's emergency manager may not have negotiated enough with creditors before the bankruptcy was filed in July. Bargaining done in good faith will be a key issue.

On Wednesday afternoon, Snyder released the following statement:

"I agreed to participate in today's proceedings and answer questions regarding the decisions that led to the municipal Chapter 9 filing for the city of Detroit. Doing so helps ensure this case is resolved fairly and as quickly as possible and that we're acting in the best interests of Detroiters and Michiganders.

"Detroit is in the midst of a fiscal crisis six decades in the making. Authorization of the Chapter 9 filing was a difficult but necessary decision - one that clearly was the last and only viable option to resolve the city's fiscal crisis and restore the greatness of this proud city. I am convinced that it will spur the turnaround and complete the comeback of our state's largest city, and ensure a vibrant, thriving Detroit and Michigan for generations to come."

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