Traverse City Record-Eagle


Detroit Bankruptcy

Retirees picket outside federal court in Detroit on Monday, Aug. 19, 2013. Judge Steven Rhodes set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit emergency manager Kevyn Orr. Creditors include bond holders, insurers, banks, employee pension funds, individuals and companies that provided services. Orr says Detroit is insolvent and unable to pay off the debt, which could be $18 billion or more. (AP Photo/Corey Williams)