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pensions

Detroit is Eligible for Bankruptcy

December 3, 2013

A judge ruled today that Detroit can file for bankruptcy to deal with its enormous fiscal woes.  A Chapter 9 bankruptcy gives some protection from a city’s creditors by renegotiating the plan to pay back that debt… debt which currently hovers around $18 billion owed to over 100,000 creditors! Part of the city’s obligations are [...]

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