Detroit Seeks Termination Of Contracts With Lenders To Save $1.45 Billion

Detroit Seeks Termination Of Contracts With Lenders To Save $1.45 Billion

DETROIT - The bankrupt City of Detroit on July 24 moved for bankruptcy court authorization to terminate an agreement with lenders related to what are called swap obligations in an attempt to save $1.45 billion (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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