Michael Sweet was quoted in the Associated Press'
article, "Deadline passes for thousands of creditors in
Detroit bankruptcy restructuring vote." Full text can be found
in the July 11, 2014, issue, but a synopsis is below.
July 11th marked the deadline for thousands of creditors to vote on
emergency manager Kevyn Orr's restructuring plan for
Detroit.
Michael Sweet explains that without a confirmation of Orr's
plan — or other plans down the road — the city's
bankruptcy could be dismissed. He clarifies, "The alternative
would be very bad. Without a plan there would then be a race to the
courthouse by creditors" filing lawsuits to get the money
they're owed.
Concluding, Sweet assures that Orr's team has been working hard
on deals it can get approved.
This article was also featured in Fox Business and NBC
News.
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