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Detroit, hoping to leave bankruptcy, warns of 'downward spiral'
Detroit, hoping to leave bankruptcy, warns of 'downward spiral'

Lawyers for the city of Detroit began their opening arguments Tuesday in what could be the final stage of the city’s bankruptcy trial, setting off a weeks-long hearing after which Judge Steven Rhodes will either approve or nix the city’s plan to emerge from Chapter 9. The city began its arguments by emphasizing that alternatives to the bankruptcy plan would stall Detroit’s recovery and potentially cast it into a situation from which it could not recover. “I don’t like the term 'death spiral,'” Bruce Bennett, an attorney representing the city, said in court Tuesday. “But Detroit is in a downward spiral.” Bennett argued that...

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