Detroit Eligible for Chapter 9 Bankruptcy Protection

Yahoo Finance
Ruling Expected Today in Detroit's Bankruptcy Case

View gallery

8 photos

Detroit is eligible to shed billions in debt in the largest public bankruptcy in U.S. history, a judge said Tuesday in a long-awaited decision that now shifts the case toward how the city will accomplish that task.

Judge Steven Rhodes turned down objections from unions, pension funds and retirees, which, like other creditors, could lose under any plan to solve $18 billion in long-term liabilities.

View Comments (49)