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Bankruptcy judge suspends hearing on Detroit's swaps deal

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[December 19, 2013]  DETROIT (Reuters)  The bankruptcy judge overseeing Detroit's bankruptcy case on Wednesday suspended a hearing on a $350 million post-petition financing to end interest-rate swaps, urging the city to renegotiate the deal.

The hearing was scheduled to continue through Thursday, but U.S. Bankruptcy Court Judge Steven Rhodes asked Detroit instead to use the time scheduled for court to hash out details of an agreement.

Rhodes ordered the parties back to court on Friday at 10 a.m. (1500 GMT) to discuss the status of Thursday's negotiations. He said the hearing would be continued at a later date.

(Reporting by Joseph Lichterman; editing by James Dalgleish)

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