Detroit bankruptcy trial on hold, city ordered to renegotiate

Detroit bankruptcy trial on hold, city ordered to renegotiate with banks

Posted: Updated:
(WJBK) -

Judge Steven Rhodes pulled the plug Wednesday on the week's bankruptcy trial. The move comes on the second day of the proceedings and after Detroit emergency manager Kevyn Orr took the stand.

At issue is a deal Orr says would give the city a much needed $350 million in financing from London-based Barclays. But, instead of hearing more arguments from the city and those opposed to the deal, Judge Rhodes halted the trial.

Judge Rhodes is ordering the city to renegotiate deals with Bank of America, Merrill Lynch and UBS.

  • Charlie LangtonCharlie LangtonMore>>

  • Rally held to stop the violence in Inkster following shooting

    Rally held to stop the violence in Inkster following shooting

    Monday, July 7 2014 12:58 AM EDT2014-07-07 04:58:10 GMT
    They rallied to stop the violence in Inkster Sunday after a triple shooting that claimed a two year old girl's life. Her father and a 12-year-old girl are still recovering from gunshot wounds and two suspects are in custody.
    They rallied to stop the violence in Inkster Sunday after a triple shooting that claimed a two year old girl's life. Her father and a 12-year-old girl are still recovering from gunshot wounds and two suspects are in custody.
  • Teenager injured by hit and run driver

    Teenager injured by hit and run driver

    Monday, July 7 2014 12:13 AM EDT2014-07-07 04:13:59 GMT
    A hit and run driver sends a teenager to the hospital. The boy has serious injuries and the driver is still out there.
    A hit and run driver sends a teenager to the hospital. The boy has serious injuries and the driver is still out there.
  • Man set free amid serial bank robbery charges

    Man set free amid serial bank robbery charges

    Wednesday, July 2 2014 9:11 PM EDT2014-07-03 01:11:05 GMT
    CENTER LINE, Mich. (WJBK)-- Glynn Jones, Jr. was let go from jailtoday as judge determined he was not responsible forfive bank robberies across metro Detroit.Jones looked similar to a man who was caught on surveillance video robbing a PNC Bank in Center Line and whom police believed robbed several other banks in the area. Despite passing a polygraph test, Jones spent 10 days in jail before being released today."No evidence, no evidence of money, no evidence of clothing, no fingerprints, nothi...
    CENTER LINE, Mich. (WJBK)-- Glynn Jones, Jr. was let go from jailtoday as judge determined he was not responsible forfive bank robberies across metro Detroit.Jones looked similar to a man who was caught on surveillance video robbing a PNC Bank in Center Line and whom police believed robbed several other banks in the area. Despite passing a polygraph test, Jones spent 10 days in jail before being released today."No evidence, no evidence of money, no evidence of clothing, no fingerprints, nothi...
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Sunday's storm captured by Fox 2 viewers

    Sunday's storm captured by Fox 2 viewers

    Sunday, July 27 2014 11:48 PM EDT2014-07-28 03:48:38 GMT
    We have more video of the storm and storm damage from across southeast Michigan. It's Fox 2 viewer pics and video that you sent to us.
    We have more video of the storm and storm damage from across southeast Michigan. It's Fox 2 viewer pics and video that you sent to us.
  • Storm damage in Oakland and Macomb counties

    Storm damage in Oakland and Macomb counties

    Sunday, July 27 2014 11:26 PM EDT2014-07-28 03:26:48 GMT
    Damage was reported across Metro Detroit Sunday after severe storms moved across our area. About 200,000 customers lost power in the hail, heavy rain, strong winds, localized flooding and thunder and lightning.
    Damage was reported across Metro Detroit Sunday after severe storms moved across our area. About 200,000 customers lost power in the hail, heavy rain, strong winds, localized flooding and thunder and lightning.
  • Person of interest sought in April Millsap murder

    Person of interest sought in April Millsap murder

    Sunday, July 27 2014 7:57 PM EDT2014-07-27 23:57:45 GMT
    We now know more about who police are looking for in the murder of April Millsap, 14, of Armada. Sunday, police released a sketch of a person of interest in the unsolved case.
    We now know more about who police are looking for in the murder of April Millsap, 14, of Armada. Sunday, police released a sketch of a person of interest in the unsolved case.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices