Blog: Glenn BrooksDetroit defaults to avoid bankruptcy

Glenn Brooks | 17 June 2013

Friday's US$39.7m missed payment on debt issued to fund pensions has made Detroit the most populous US city to default since Cleveland 35 years ago.

There's a good summary of how Motor Town got itself into its current state, plus what Emergency Manager Kevyn Orr is proposing to the city's creditors here.


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