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Latest News - April 2014

April 28, 2014
Detroit reaches deal with city's largest union
Source: Fox Detroit

A tentative deal on a contract between Detroit and some unions could speed up the city's bankruptcy process.

The city and the Coalition of Detroit Unions announced Monday they have agreed in principle on "major aspects" of the five-year collective bargaining agreement.

Bill Nowling, a spokesman for emergency manager Kevin Orr, said the deal with the unions and recent agreements with other creditors "will allow the city to exit from bankruptcy sooner and financially solvent."

Orr has said he expects the city to emerge from bankruptcy by fall.

A committee representing Detroit retirees already has agreed to endorse the city's plan to cut pensions in bankruptcy.

Michigan House Speaker Jase Bolger says he hopes the cooperation continues as "we all move closer to a resolution of Detroit's bankruptcy."

 

 


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