Detroit Schools Bankruptcy Analysis Wrapping Up
Detroit
The Detroit schools' emergency financial manager on Thursday backed off of earlier statements that the cash-strapped district may be headed toward bankruptcy.
Robert Bobb announced in July that his office had meetings with lawyers and a former federal judge to debate the merits of Chapter 9 bankruptcy to help bail out the district.
Bobb said Thursday during the unveiling of an ambitious student retention campaign that he is not sure whether bankruptcy "is the best course of action" for the district, which faces a deficit of at least $259...
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