Detroit gets extension to May 5 to submit final disclosure statement

By Kali Hays

New York, May 2 - The City of Detroit received court permission to extend its deadline for filing a final disclosure statement, according to a May 2 order with the U.S. Bankruptcy Court for the Eastern District of Michigan.

The deadline was extended to May 5 from May 2.

The city said it discussed its reasons with the court and that the brief extension is "warranted under the circumstances," and that it will "promote the just, speedy, and inexpensive determination of this case."

As previously reported, the city expected to file an amended disclosure statement Friday after the objections to the statement and its related plan of adjustment were resolved in an April 28 hearing, according to an attorney familiar with the case.

A judge is expected to approve the revised disclosure statement without a new hearing, according to the attorney.

Detroit filed for bankruptcy on July 18, 2013 under Chapter 9 case number 13-53846.

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