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DETROIT BANKRUPTCY
Judge in Detroit bankruptcy case holding hearing on creditor ballots, other issues

Reported by: Associated Press
Reported: Thursday, April 17, 2014 8:23 AM EDT
DETROIT


The judge overseeing Detroit's bankruptcy is holding a hearing during a week of significant breakthroughs in the case.

The city has the support of pension funds and a retirees' group to reduce payouts to thousands of former Detroit employees. The retirees still must vote, but the tentative deals are a major step toward eventually emerging from bankruptcy.

More details could emerge Thursday in Judge Steven Rhodes' courtroom. He's holding a hearing to listen to objections to Detroit's disclosure statement, which is hundreds of pages of information about the city's finances.

Rhodes also is likely to get an update on Detroit's plan to send ballots to creditors who will soon vote on a plan to settle debts.










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