Detroit did not negotiate pre-bankruptcy: financial adviser

By Joseph Lichterman DETROIT (Reuters) – The financial adviser for Detroit's two pension funds testified in federal court on Thursday that the town did not negotiate previous to submitting the most important municipal bankruptcy in U.S. historical past in July. The adviser's testimony came on the eighth day of an eligibility trial as Detroit tries to show to U.S. Chapter Choose Steven Rhodes that it is bancrupt and that it acted in just right religion when it deemed negotiations were simply impractical. "In your judgment, did any negotiations happen between the town and the retirement methods prior to the Chapter 9 filing?" pension fund lawyer Ron King requested Bradley Robins, who is advising the money. Legal professionals for the town, the unions, the retirees and the pension funds hostile to the bankruptcy are set to start their closing arguments on Friday.