Start of key Detroit bankruptcy hearing delayed by one week

July 29 Tue Jul 29, 2014 4:38pm EDT

July 29 (Reuters) - The start of a critical hearing on Detroit's plan to adjust $18 billion of debt and exit bankruptcy will be delayed by one week to Aug. 21, a federal judge ruled on Tuesday.

U.S. Bankruptcy Court Judge Steven Rhodes rejected a request by city creditor Syncora Guarantee Inc to postpone the hearing until Sept. 29, but said in his order that the bond insurer had demonstrated the need for a limited delay. (Reporting By Karen Pierog and Lisa Lambert)