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>> DETROIT BANKRUPTCY Latest News

APR 09, 2014 - Yahoo! News

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Detroit deal with insurers could set stage for more compromises

By Lisa Lambert WASHINGTON (Reuters) - Detroit on Wednesday struck a deal with a core group of creditors that dramatically cuts the losses they would suffer in the city's landmark bankruptcy case, a breakthrough that could pave the way for settlements with other holdout creditors. Additionally, Detroit might no longer try to classify nearly $400 million of voter-approved general obligation bonds as unsecured, a threat that had been a chilling prospect for municipal bond investors who have long viewed so-called GO debt as that market's safest investments. Their final status is still ... Read More

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