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Detroit bankruptcy judge orders company to stop collecting casino revenue

Casino gaming
Casino gaming

DETROIT (WKZO) -- The City of Detroit will begin receiving millions in tax revenues from the city's casinos following a ruling by U.S. Bankruptcy Judge Steven Rhodes Wednesday morning.

The judge halted an insurance company from taking that money to pay city bond holders.  Syncora Guarantee insures the pension bond debt and claimed they had the right to collect the money as the city tries to negotiate a settlement with two banks.

Emergency Manager Kevyn Orr is working on a plan that would pay UBS and Bank of America four-million dollars a month, giving the city eleven-million dollars a month for city services.

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