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Bankruptcy court update in Detroit

A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013.
Credit: Reuters/ Rebecca Cook
A image of the Detroit skyline is seen on the podium where Detroit Emergency Manager Kevyn Orr and Michigan Governor Rick Snyder addressed the media about filing bankruptcy for the city of Detroit during a news conference in Detroit, Michigan July 19, 2013. Credit: Reuters/ Rebecca Cook

DETROIT (WKZO) -- Three New York City-based insurers are represented in Bankruptcy Court in Detroit Wednesday asking for permission to sue for millions in overdue interest payments owed by the city.  The city's bankruptcy attorneys, though, want Judge Steven Rhodes to dismiss the suit.

At the center is the fact that last October the city missed paying 9.3-million dollars in interest payments that were due to bondholders.  The insurance companies say they had to pay out the amount to the investors and want to recoup that money.

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