Creditors: $169.2M Settlement Of Detroit Swap Agreements Should Not Be Allowed

Creditors: $169.2M Settlement Of Detroit Swap Agreements Should Not Be Allowed

DETROIT - A group of creditors in the Chapter 9 bankruptcy of the City of Detroit on Jan. 2 filed a brief objecting to a recommendation filed by the mediator appointed by the bankruptcy judge in which the city would pay $169.2 million to terminate contracts referred to as swap agreements (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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