Hard-luck Detroit could go completely broke thanks to lawsuit
- what The city of Detroit could be flat broke by the middle of June — June 15 to be exact. “If our city runs out of money there is no bigger crisis facing our city,” said mayor Dave Bing. The city has stayed afloat of late due to a financial consent agreement with the State of Michigan.
- why The city’s top attorney, Krystal Crittendon, filed a lawsuit over the agreement, saying it’s not valid because the state owes the city unpaid debts. The result? The state could withhold parts of an $80 million bond, leaving the city broke. However, workers would still get paid regardless. source
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