Analyst grilled on 2nd day of bankruptcy trial - My9 New Jersey

Analyst grilled on 2nd day of bankruptcy trial

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DETROIT (AP) -

A financial analyst who studied Detroit's books is back on the witness stand facing cross-examination in the city's bankruptcy trial.

A lawyer for a city employee union is going over documents that identified city-owned assets that could be used to possibly raise money.

Gaurav Malhotra of Ernst & Young is the first witness in the trial, which will determine whether Detroit is eligible to shed debts and turn itself around under Chapter 9 of the bankruptcy law.

Judge Steven Rhodes must decide whether the city is broke and whether it negotiated in good faith with creditors before filing in July. Unions and pension funds are opposed.

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