Mich. gov. testifies about Detroit bankruptcy
LANSING, Mich. – Michigan Gov. Rick Snyder testified behind closed doors Wednesday about his role taking Detroit into bankruptcy, a rare interview with lawyers for creditors who pressed him about retiree pensions and asked if the city could have done more to avoid the historic filing.
Snyder waived executive privilege and gave a three-hour deposition at his office in Lansing. The testimony can be used as evidence in an upcoming trial that will determine whether Detroit is eligible to shed or restructure at least $18B in debt in U.S. Bankruptcy Court.
Snyder, a Republican, didn’t speak to reporters but issued a statement that repeated many of his previous justifications for the largest public bankruptcy in U.S. history. The “Chapter 9 filing was a difficult but necessary decision, one that clearly was the last and only viable option to resolve the city’s fiscal crisis and restore the greatness of this proud city,” the governor said.