Let It Rip: Detroit eligible for Chapter 9 bankruptcy - FOX 32 News Chicago

Let It Rip: Detroit eligible for Chapter 9 bankruptcy

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(WJBK) -

A judge ruled Tuesday Detroit is eligible to fix its finances in bankruptcy court, making it the largest municipal in the U.S. to enter into Chapter 9 bankruptcy. This is just the beginning of what will be a long process to fix the city's financial issues.

What happens to the role of emergency manager Kevyn Orr now that the bankruptcy court will make most of the decisions for the city? What will we see in the coming months as the bankruptcy plays out?

On the panel:

John Pattow, Bankruptcy expert and professor
Tim Wittebort, Bankruptcy attorney
Charlie Langton, Fox 2 Legal Analyst

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