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19 July 2014

Detroit's Debt-Cutting Plan Headed For Approval By Retirees

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According to early returns, a significant number of Detroit retirees have shown support for the city's debt-cutting plan to reduce its $7 billion debt. - See more at: http://www.foxrothschild.com/newspubs/newspubsArticle.aspx?id=15032394861#sthash.CGp9gMzO.dpuf
United States Insolvency/Bankruptcy/Re-Structuring
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Michael Sweet was quoted in Detroit News' article, "Detroit's debt-cutting plan headed for approval by retirees." Full text can be found in the July 11, 2014, issue, but a synopsis is below. 

According to early returns, a significant number of Detroit retirees have shown support for the city's debt-cutting plan to reduce its $7 billion debt.
Michael Sweet comments on Detroit's case, saying: "The trial becomes more complicated or controversial if there's a lot of votes against the plan."

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