U.S. bankruptcy judge approves $120M US loan for Detroit
Reuters | Posted: April 2, 2014 6:17 PM | Last Updated: April 2, 2014
A U.S. bankruptcy judge on Wednesday approved Detroit's plan to borrow $120 million US from Barclays PLC to improve services in the cash-strapped city, according to newspaper reports.
The loan deal received previous approval from the Detroit City Council and Michigan's Local Emergency Financial Assistance Loan Board.