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Detroit bankruptcy trial postponed again

DETROIT (WKZO) -- Detroit's attempt to get out of the largest municipal bankruptcy in U.S. history is being postponed for a second time.

A federal judge ruled Wednesday that the trial will begin on the Friday, August 29th. The main reason for the delay is due to the complicated settlement resting on the five-billion dollar tender offer of the city's water and sewer revenue bonds.

U.S. Bankruptcy Judge Steve Rhodes will have to decide whether or not Detroit's plan to adjust 18-billion of debt is fair.

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