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Judge halts Detroit bankruptcy restructuring trial

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) -- U.S. Bankruptcy Judge Steven Rhodes has suspended a trial to determine if the city of Detroit will be able to borrow 350-million dollars from London-based bank Barclays to pay off a loan deal from 2005.  Wednesday, the judge questioned whether the proposed financing to pay UBS, Bank of America and Merrill Lynch 75 cents on the dollar was too generous and ordered the city to renegotiate with the banks.

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