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Mich. Governor Testifies About Bringing Detroit into Bankruptcy

Michigan Gov. Rick Snyder testified behind closed doors Wednesday about his role taking Detroit into bankruptcy, a rare interview with lawyers for creditors who pressed him about retiree pensions and asked if the city could have done more to avoid the historic filing.

Snyder waived executive privilege and gave a three-hour deposition at his office in Lansing. The testimony can be used as evidence in an upcoming trial that will determine whether Detroit is eligible to shed or restructure at least $18 billion in debt in U.S. Bankruptcy Court.

Snyder, a Republican, didn't speak to reporters but issued a statement that repeated many of his previous justifications for the largest public bankruptcy in U.S. history.

Source: AP. Read full article. (link)

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