Detroit files updated bankruptcy adjustment plan

Published April 1, 2014 1:39am ET



DETROIT (AP) — Detroit’s updated bankruptcy plan was filed in federal court on Monday, revealing new details on how the city plans to restructure its debt and provide public services during the largest municipal bankruptcy in U.S. history.

The amended plan of adjustment — considered Detroit’s bankruptcy blueprint — and accompanying disclosure statement offer new details on the terms of a settlement with two banks to pay off a bad pension debt deal. The documents also make minor clarifications in how much pension benefits for city retirees would be cut.

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