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Judge rules on Detroit's bankruptcy filing

A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013.
Credit: Reuters/ Rebecca Cook
A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013. Credit: Reuters/ Rebecca Cook

DETROIT (WKZO) -- The city of Detroit meets the criteria for Chapter 9 bankruptcy protection.  In summarizing a 140-page rulin, Judge Stephen Rhodes said, in part, that Detroit no longer has the resources to provide residents with services and there is enough evidence to prove that the city is insolvent.

It is expected that emergency manager Kevyn Orr will file his restructuring plan as early as this week. It is also anticipated that hundreds of creditors will file appeals.

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