Mealey's Bankruptcy - Detroit's Chapter 9 Plan Would Invest $1.5B In The City; Retirement Benefits Safe

Mealey's Bankruptcy - Detroit's Chapter 9 Plan Would Invest $1.5B In The City; Retirement Benefits Safe

DETROIT - The bankrupt City of Detroit on Feb. 21 filed its Chapter 9 payment plan in the U.S. Bankruptcy Court for the Eastern District of Michigan; the city says the plan will provide $1.5 billion for investment in the city and will allow it to emerge from bankruptcy this year (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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