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Thu July 9, 2009
Detroit schools official to meet with ex-bankruptcy judge
DETROIT – The state-appointed overseer of the cash-strapped Detroit Public Schools is meeting with a retired U.S. bankruptcy judge.
School district emergency financial manager Robert Bobb and his team are meeting in an informational session with retired Judge Ray Reynolds Graves.
Bobb wants to get information regarding Chapter 9 bankruptcy.
Bobb said late last month the district's financial situation is so bad it may have to file for bankruptcy.
The district is expected to enter the next school year with a deficit of about $259 million.
Bobb was appointed in January by Gov. Jennifer Granholm to oversee Michigan's largest public school district.