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Judge delays Detroit bankruptcy hearing

The word "Bankruptcy" is painted on the side of a building in Detroit, Michigan October 25, 2013. REUTERS/Joshua Lott
The word "Bankruptcy" is painted on the side of a building in Detroit, Michigan October 25, 2013. REUTERS/Joshua Lott

DETROIT (WKZO) -- U.S. Bankruptcy Judge Steven Rhodes is delaying a hearing on whether to approve Detroit's restructuring plan.

Thursday, Rhodes said the hearing will start on July 16th instead of June 16th. The extra month will allow creditors and the city more time to reach agreements, as several major creditors had said the original schedule was rushed.

Rhodes has set an April 14th hearing to consider objections to the city's disclosure statement and deadlines in April and June for retirees, bondholders and creditors to file objections to the restructuring plan.

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