Detroit's bankruptcy trial starts back up today after a week-long break as holdout creditors prepare to make their case against the city's restructuring plan, the Detroit Free Press reported today. Creditors' arguments are expected to take all week, setting up closing statements in Detroit's historic bankruptcy case next Monday. Bankruptcy Judge Steven Rhodes would then decide whether to confirm Detroit's plan of adjustment, a 10-year strategy to bring the city out of its financial crisis. At the heart of the plan is a $1.4-billion investment in city services. Meanwhile, settlement negotiations are ongoing between the city and its last major creditor, bondholder Financial Guaranty Insurance Co., which has a $1.1-billion claim against Detroit.
