U.S. bankruptcy judge OKs $120 million loan for Detroit: reports

Reuters News
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Posted: Apr 02, 2014 10:18 AM

(Reuters) - A U.S. bankruptcy judge on Wednesday approved Detroit's plan to borrow $120 million from Barclays PLC to improve services in the cash-strapped city, according to newspaper reports.

The loan deal received previous approval from the Detroit City Council and Michigan's Local Emergency Financial Assistance Loan Board.

(Reporting by Karen Pierog; Editing by James Dalgleish)