Up now for the objectors is Guy Neal representing national public finance guarantee corp., a municipal bond insurer:
Neal: “We have a strong overarching vital interest in this. As such as creditors and the public generally are entitled to a transparent and open process. Where is the disadvantage in this process in the full and open disclosure of those fees. This has never been done before and I don’t think there should be a precedent that the total cost of this facility should be sealed."
Now the city is rebutting the other closings.
There was extended and complex argument by the city of Detroit attorneys and the Barclay’s attorneys regarding the secrecy issue. There was much discussion about the fact that this is a precedent setting and the judge is going to rule when he comes back at 2:30pm.