IPFS News Link • Economy - Economics USA
Detroit defaults on some debt to avoid bankruptcy filing
• ReutersDetroit said on
Friday it would stop making payments on some of its about $18.5 billion
debt, which would put it in default, and the "insolvent" city called on
most of its creditors to accept pennies on the dollar to help it avoid
the largest municipal bankruptcy filing in U.S. history.
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