Creditors reach deadline to object to bankruptcy

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FILE - In this July 19, 2013, file photo, state-appointed emergency manager Kevyn Orr, right, and Michigan Gov. Rick Snyder, address reporters during a news conference in Detroit after Orr asked a federal judge for bankruptcy protection. Monday, Aug. 19, 2013, is the deadline for a host of banks, bond insurers, two employee pension systems and others standing to lose big if a federal judge declares Detroit insolvent to legally file their objections to the largest municipal bankruptcy in U.S. history. (AP Photo/Carlos Osorio, File)

DETROIT (AP) — The deadline has arrived for creditors to oppose Detroit's request for bankruptcy protection.

Judge Steven Rhodes set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit emergency manager Kevyn Orr.

Creditors include bond holders, insurers, banks, employee pension funds, individuals and companies that provided services.

Orr says Detroit is insolvent and unable to pay off the debt, which could be $18 billion or more. A residents' group told reporters Monday that it objects to Orr's authority as an unelected official to take the city into bankruptcy. The group is being advised by a former city attorney.

Detroit has until Sept. 6 to respond to objections. A trial is set for Oct. 23.

Detroit is the largest U.S. city to seek bankruptcy protection.