Wednesday, November 12, 2014

Judge Allows Detroit to Start Bankruptcy Exit Plan Immediately

The federal judge who approved Detroit's plan for exiting the biggest-ever U.S. municipal bankruptcy gave the city on Wednesday the go-ahead for putting the plan in motion. at a hearing on the confirmation order for implementing the plan, Federal Bankruptcy Judge Steven Rhodes said "The city needs to begin implementing this plan immediately," The second step in the process is issuing a confirmation order that sets a start-date for the plan's many measures and settlements.

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