Mediation session scheduled in Detroit bankruptcy - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Mediation session scheduled in Detroit bankruptcy

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DETROIT (AP) -

The first mediation session has been scheduled between Detroit's emergency manager and some creditors in the city's bankruptcy case.

Federal Judge Gerald Rosen told all sides to appear in private on Sept. 17. Each party is required to submit by Aug. 28 a confidential statement outlining their positions.

The participants include Detroit's pension funds, a half-dozen unions, U.S. Bank National Association and several municipal bond insurers. Emergency manager Kevyn Orr took Detroit into bankruptcy last month as he tries to restructure at least $18 billion in liabilities.

U.S. Bankruptcy Judge Steven Rhodes appointed Rosen earlier this month as a mediator in the case.

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