In largest-ever U.S. city bankruptcy, cuts coming for Detroit creditors, retirees (34)

Reuters 2013.12.04 03:09
By Joseph Lichterman and Bernie Woodall DETROIT DETROIT (Reuters) - A federal judge on Tuesday formally declared Detroit bankrupt, a landmark ruling that clears the way for potentially sweeping cuts to city worker pensions and retirement benefits and for steep and possibly precedent-setting losses to the cash-strapped city's bond holders. The ruling by U.S.
DETROIT, BANKRUPTCY, PENSION, JUDGE, CREDITOR, RETIREE, Levine, Duggan, USA