Syncora: Detroit's Plan To Spend At Least $11M On Public Lighting Must Be Denied

Syncora: Detroit's Plan To Spend At Least $11M On Public Lighting Must Be Denied

DETROIT - Syncora Guarantee Inc. and Syncora Capital Assurance Inc. (collectively, the Syncora entities) on Nov. 6 filed a brief in the U.S. Bankruptcy Court for the Eastern District of Michigan objecting to the bankrupt City of Detroit's motion seeking an order authorizing between $11 million and $12 million for a public lighting initiative in connection with the city's revitalization that is not tied to recovery for the city's creditors (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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