As Detroit navigates its way through an unprecedented bankruptcy, the city will face challenges surrounding retirees who want to keep their benefits, bondholders being asked for massive concessions and its own ability to fix its financial infrastructure. In this Law360 article, Patton Hahn notes that one of those challenges will be related to tax revenues.
"In a sense, Chapter 9 will help their cash flow because they won't be making any debt payments in the near future," Mr. Hahn said. "But it remains to be seen what happens with tax revenues."
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