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Detroit Defeats Insurer Requests as Judge Considers Bus Tour

Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape the citys in.

By Steven Raphael, Bloomberg | Updated on June 26, 2014

(Bloomberg) — Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape the city’s in.

U.S. Bankruptcy Judge Steven Rhodes today in Detroit rejected a bid by Syncora Guarantee Inc. to question Michigan Attorney General Bill Schuette, who has endorsed a plan that would safeguard Detroit’s art collection in exchange for hundreds of millions of dollars from philanthropic foundations and the state to shore up pensions.

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