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Gov. Snyder: Court ruling on bankruptcy allows Detroit to stay on a path toward brighter future

 Detroit will regain its financial footing, spark investment

 Tuesday, Dec. 3, 2013

LANSING, Mich. – Gov. Rick Snyder today offered the following statement on U.S. Bankruptcy Judge Steven Rhodes’ determination that Detroit is eligible to proceed with bankruptcy proceedings under Chapter 9.

 “Today, the federal court allowed Detroit to stay on the path toward a brighter future.  A future where streetlights work and ambulances respond quickly. A future where crime and blight shrink, and where jobs and investments surge.

 “Authorizing the emergency manager to seek federal bankruptcy protection was a difficult decision, but it was the last viable option to restore the city and provide Detroit’s 700,000 residents with the public services they need and deserve.

 “Judge Rhodes’ ruling today affirms that decision.

 “We need to recognize that this decision is a call to action. We are confronting fiscal realities that have been ignored for too long. Today’s decision will allow Detroit to regain its financial footing and spark investments in key areas that will improve the quality of life for all residents and encourage growth and investment.

 “We know that Detroit’s comeback is already in motion. We’ve seen the revitalization in downtown and midtown. Now, with our partners in the city and beyond, we will correct the municipal problems that were decades in the making and ensure strong, thriving neighborhoods.

 “There will be other difficult decisions as we work through this process. But Michigan and Detroit are resilient and are the comeback stories in the country. Working together we can and will make sure that reinvention happens.”