CHICAGO — Detroit's two pension boards sued Michigan Gov. Rick Snyder and Detroit emergency manager Kevyn Orr in state court Wednesday, saying their "imminent" move to put Detroit in Chapter 9 bankruptcy would violate state constitutional protections for the city's pensions.

The General Retirement System and the Police and Fire Retirement System of Detroit, which together represent 32,000 active and retired employees, filed the lawsuit in Ingham County Circuit Court.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.