Detroit Files Historic Bankruptcy Blueprint

Detroit laid out its blueprint Friday for how it will emerge from the largest municipal bankruptcy ever. 
Joshua Lott / Reuters

nbcnews.com - by Patrick J. Rizzo - February 21, 2014

Detroit revealed its historic plan to emerge from under $18 billion in debt Friday, laying the groundwork for what’s expected to be a long, bitter battle with creditors, retirees and bondholders over the biggest municipal bankruptcy ever.

The 120-page 'plan of adjustment' could change radically as negotiations with more than 100,000 creditors move forward. It must still be approved by U.S. Bankruptcy Judge Steven Rhodes.

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CLICK HERE - SUMMARY OF THE PLAN (2 page .PDF file)

CLICK HERE - Detroit Plan of Adjustment (120 page - Scribd)