Bankruptcy Judge Steven Rhodes yesterday refused to delay the process of approving Detroit’s debt-cutting plan, arguing that the city would run out of cash if it takes too long, the Detroit News reported today. “The problem with delay is the city will not have any more money to pay you if this is put off two or four or six months,” Judge Rhodes told attorney Carole Neville, who represents Detroit retirees. Following a 40-minute hearing, Rhodes filed a written order keeping Detroit’s bankruptcy case on track for a June 16 trial. During the trial, Detroit must prove it can accomplish a plan to shed debt and end the biggest municipal bankruptcy case in U.S. history. Retirees and other creditors had asked the judge to slow approval of the debt-cutting plan to give them more time to file objections. Judge Rhodes gave them until April 1.
