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City of Detroit Proposal for Creditors

City of Detroit Proposal for Creditors

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Published by webteam2410
(WXYZ) - Detroit's Emergency Manager is telling creditors the city can only afford to pay about ten cents on the dollar on unsecured debt. Some other unsecured debt will be offered less than that.

Read more: http://www.wxyz.com/dpp/news/region/detroit/details-revealed-emergency-manager-kevyn-orr-meets-with-creditors
(WXYZ) - Detroit's Emergency Manager is telling creditors the city can only afford to pay about ten cents on the dollar on unsecured debt. Some other unsecured debt will be offered less than that.

Read more: http://www.wxyz.com/dpp/news/region/detroit/details-revealed-emergency-manager-kevyn-orr-meets-with-creditors

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Published by: webteam2410 on Jun 14, 2013
Copyright:Attribution Non-commercial

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07/10/2013

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CITY OF DETROIT
PROPOSAL FOR CREDITORS
JUNE 14, 2013
 
This proposal is based on numerous projections and assumptions concerning future uncertain events including estimates oftax revenues and forecasts of future business and economic conditions in the city, all of which are beyond the control of thecity. Actual results may differ from the assumptions and projections presented herein, and such differences could be material.
Additional data are being gathered or developed, and various critical nancial and operational analyses remain in process.
Thus, this proposal remains subject to material change.
CITY OF DETROIT
PROPOSAL FOR CREDITORS
JUNE 14, 2013

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