Detroit Judge To Decide On City Bankruptcy Plan
Today a federal judge is expected to say yea or nay to Detroit’s plan to exit bankruptcy. If he does, the decision will wrap up about a year and a half after it started — remarkably fast for the largest U.S. municipal bankruptcy ever.
That was possible because Detroit and its creditors reached key settlements, including an unprecedented plan dubbed the “Grand Bargain.” From the Here & Now Contributors Network, Sarah Cwiek of Michigan Radio has more on that deal and what it might mean for the role of philanthropy in struggling cities.
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