Analyst grilled on 2nd day of bankruptcy trial - FOX 32 News Chicago

Analyst grilled on 2nd day of bankruptcy trial

Posted: Updated:
  • Detroit BankruptcyMore>>

  • Schuette endorses Detroit art deal in bankruptcy

    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
DETROIT (AP) -

A financial analyst who studied Detroit's books is back on the witness stand facing cross-examination in the city's bankruptcy trial.

A lawyer for a city employee union is going over documents that identified city-owned assets that could be used to possibly raise money.

Gaurav Malhotra of Ernst & Young is the first witness in the trial, which will determine whether Detroit is eligible to shed debts and turn itself around under Chapter 9 of the bankruptcy law.

Judge Steven Rhodes must decide whether the city is broke and whether it negotiated in good faith with creditors before filing in July. Unions and pension funds are opposed.

Police Chief James Craig is expected to testify about the impact of Detroit's poor finances on public safety.

  • Local NewsLocal NewsMore>>

  • Community wants justice as investigation of Armada teen's murder continues

    Community wants justice as investigation of Armada teen's murder continues

    Thursday, July 31 2014 5:40 PM EDT2014-07-31 21:40:23 GMT
    Wearing pink, the mother of 14-year-old April Millsap's boyfriend -- remembered the teen Thursday as the small village of Armada tries to cope."It's very hard, it's in such a spotlight, as a mom you don't think it's going to be like this," said Monique Albertson, mother of April Millsap's boyfriend. "Everyone is just hanging in there the best we can. It's overwhelming."Albertson, joining hundreds of people, police, classmates - most wearing pink which was April Millsap's favorite color."We're...
    Wearing pink, the mother of 14-year-old April Millsap's boyfriend -- remembered the teen Thursday as the small village of Armada tries to cope."It's very hard, it's in such a spotlight, as a mom you don't think it's going to be like this," said Monique Albertson, mother of April Millsap's boyfriend. "Everyone is just hanging in there the best we can. It's overwhelming."Albertson, joining hundreds of people, police, classmates - most wearing pink which was April Millsap's favorite color."We're...
  • Romulus cop in hot water after road rage incident

    Romulus cop in hot water after road rage incident

    Thursday, July 31 2014 4:47 PM EDT2014-07-31 20:47:41 GMT
    An off duty Romulus police officer is facing felony charges in connection with a road rage incident.Officer David Brooks is facing felonious assault and felony firearms charges after an investigation by Van Buren Township detectives.According to the report, police responded to a road rage incident between two trucks on I-94 in Belleville on May 29th.Van buren police pulled one of the trucks over which was driven by Brooks, and found a loaded handgun in the car.Brooks was released on personal ...
    An off duty Romulus police officer is facing felony charges in connection with a road rage incident.Officer David Brooks is facing felonious assault and felony firearms charges after an investigation by Van Buren Township detectives.According to the report, police responded to a road rage incident between two trucks on I-94 in Belleville on May 29th.Van buren police pulled one of the trucks over which was driven by Brooks, and found a loaded handgun in the car.Brooks was released on personal ...
  • SOURCES: Detroit Tigers acquire pitcher David Price

    SOURCES: Detroit Tigers acquire pitcher David Price

    Thursday, July 31 2014 4:46 PM EDT2014-07-31 20:46:10 GMT
    The Tigers have acquired pitcher David Price from the Rays in a three-team trade that reportedly involves the Mariners, according to reports. The clubs have not commented on or confirmed the report.  Jackson goes to Mariners; Smyly, Franklin also involved in three-way deal
    The Tigers have acquired pitcher David Price from the Rays in a three-team trade that reportedly involves the Mariners, according to reports. The clubs have not commented on or confirmed the report.  Jackson goes to Mariners; Smyly, Franklin also involved in three-way deal
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

205 N. Michigan Avenue
Ground Floor
Chicago, IL 60601
Station Operator: (312) 565-5532
Newsroom: (312)565-5533

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