Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
A federal bankruptcy judge ruled Tuesday that Detroit’s historic bankruptcy will be able to continue and that the city is eligible to shed billions of dollars in debt.
“This once proud and prosperous city can’t pay its debts. It’s insolvent. It’s eligible for bankruptcy,” Federal Judge Steven Rhodes said during this ruling. “At the same time, it also has an opportunity for a fresh start.”
While the bankruptcy plan has not been submitted to the judge, today’s hearing cleared the way for the city to make the submission. The ruling today addressed issues regarding whether or not Detroit was eligible to stay in bankruptcy court.
The decision could have impact nationwide as Judge Rhodes ruled that municipal pensions are like any other contract and can be cut in a federal bankruptcy filing.
Opponents of the bankruptcy plan filed an appeal only minutes after the ruling.
