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

The logo of Barclays bank is seen at its office in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren
The logo of Barclays bank is seen at its office in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

(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)

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