Monday, March 3, 2014
(Detroit, MI) -- The City of Detroit is getting ready to mail out voting packages to about 170-thousand creditors eligible to vote on its proposed bankruptcy plan. Those creditors will be voting on whether to accept or reject the city's plan for restructuring its debt. A nearly 200-page document was filed with U.S. bankruptcy court late Friday detailing who is eligible to vote. The creditors include City of Detroit retirees and others with claims against the city. They have a deadline of 5 p.m. on June 9th to return their ballots. The document filed Friday states "it is essential to conclude this Chapter 9 case as soon as possible so the City can return to a condition that its citizens have a right to expect."