Detroit’s debt restructuring plan ‘complicated’

Published February 1, 2014 12:43am ET



DETROIT (AP) — A proposed plan to restructure Detroit’s debt calls for retirees and pensioners to receive $4.3 billion in payments and bondholders about $1.1 billion over the next 40 years, leaving the bankrupt city with a surplus of nearly $336 million.

The figures were obtained Friday by The Associated Press, along with state-appointed emergency manager Kevyn Orr’s 99-page plan of adjustment to Detroit creditors.

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