The city of Detroit will present a "mountain of evidence" to show that its perilous finances qualify for a turnaround in bankruptcy court, an attorney said Wednesday as a judge opened an extraordinary trial to determine if the largest public filing in U.S. history will go forward.
Detroit, with $18 billion in debt, filed for Chapter 9 protection in July, but it's not automatic. Judge Steven Rhodes has set aside several days to hear evidence and decide whether the city met many key steps, including good-faith negotiations with creditors, before taking drastic action three months ago.
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