Detroit Should Not Enter Forbearance Agreement With Banks, City Resident Argues

Detroit Should Not Enter Forbearance Agreement With Banks, City Resident Argues

DETROIT - A Detroit resident on Jan. 6 filed a brief in the Chapter 9 bankruptcy of the City of Detroit, contending that the U.S. Bankruptcy Court for the Eastern District of Michigan, should not approve the city's motion to enter a forbearance agreement on interest rate swaps with two banks (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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