Creditor wants 75 cents on dollar for Detroit debt

DETROIT (AP) — An attorney for one of Detroit’s creditors told a judge overseeing the city’s historic bankruptcy Wednesday that Detroit could afford to pay 75 cents on the dollar to settle its debt if it sold some masterpieces from the art museum.

But an attorney for Detroit told federal Judge Steven Rhodes in his opening statement that the debt-restructuring plan focused first on resolving a dire financial situation and does not discriminate against creditors.