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Detroit bankruptcy negotiations intensify

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) -- Closed-door negotiations in Detroit's bankruptcy have reportedly intensified this week.  The city and its numerous creditors have been meeting in New York City since Monday in an effort to reach a consensual debt-cutting deal by the end of the week.

Sources close to the negotiations say both sides are trying to reach an agreement before the start of the Detroit North American International Auto Show on Monday.  The city is working to restructure roughly 18-billion dollars in debt.

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