Reuters logo
U.S. bankruptcy judge OKs $120 million loan for Detroit: reports
April 2, 2014 / 2:20 PM / in 4 years

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

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

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below