With Detroit’s historic bankruptcy filing, other financially strapped cities, towns and counties across the country are watching closely to see how the city addresses its pension obligations and bond debt, among other issues, before they dive into Chapter 9. In this Law360 article, Patton Hahn notes the impact this filing may have on pension obligations.
“If Detroit is allowed to write down its obligation to its retirees ... that could have an impact on other municipalities seeking Chapter 9,” Mr. Hahn said.
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