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U.S. bankruptcy judge OKs $120 million loan for Detroit: reports
April 2, 2014 / 2:20 PM / 3 years ago

U.S. bankruptcy judge OKs $120 million loan for Detroit: reports

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The logo of Barclays bank is seen at its office in the Canary Wharf business district of London April 1, 2013.Chris Helgren

(Reuters) - A U.S. bankruptcy judge on Wednesday approved Detroit's plan to borrow $120 million 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.

Reporting by Karen Pierog; Editing by James Dalgleish

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