Mealey's Bankruptcy - Bankruptcy Judge: Detroit Must Provide Information On New $120M Loan

Mealey's Bankruptcy - Bankruptcy Judge: Detroit Must Provide Information On New $120M Loan

DETROIT - The federal bankruptcy judge presiding over the Chapter 9 case of the City of Detroit on March 24 ordered the city to provide additional information regarding its plan to secure $120 million in new financing, calling for disclosure of all material terms of the loan, including information as to whether the loan is subject to "market flex provisions" (In Re: City of Detroit, No. 13-53846, Chapter 9, E.D. Mich. Bkcy.).

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