Lawyer: Governor Snyder will testify at bankruptcy trial
10:28 AM, Oct 23, 2013
3:49 PM, Oct 23, 2013
DETROIT (WXYZ) - Attorneys for the state have told Bankruptcy Judge Steven Rhodes that Governor Rick Snyder is willing to testify, that they will not file a motion to quash his subpoena and his schedule would allow him to testify Monday afternoon in the eligibility trial.
Subpoenas were also issued for Snyder aide Rich Baird and State Treasurer Andy Dillon. They could also testify Monday or Tuesday of next week.
Attorney Bruce Bennett, from Jones Day and appearing for the City, in his opening statement in the eligibility trial also says their experts will testify that the city is insolvent, Police Chief James Craig will testify the city can not provide basic services and without that there is no need for the city to reorganize, that the Belle Isle lease with the state does not provide any revenue but saves the city money and that art at the Detroit Institute can not be sold without litigation and a change in management at the museum.
Bennett also told Judge Steven Rhodes that negotiations with thousands of creditors is "impracticable" with bond holders and city employees but that the city started those in the June 14 presentation at Detroit Metro Airport.
Detroit has $18 billion in debt and city employee pensions are underfunded by $3.5 billion.
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