Detroit legal battle over bankruptcy petition
Found on BBC News on Saturday, 20 July 2013
Bankruptcy would allow Detroit's state-appointed emergency manager, Kevyn Orr, to liquidate the city's assets to try to meet the demands of creditors and pensioners.
But two pension funds representing retired city workers have resisted the bankruptcy plan, and - with tens of thousands of creditors - the city is already facing a number of lawsuits.
Why should that change much? Detroit is broke and cannot pay back; challenging the bankruptcy in court won't create money out of thin air.