Hedge Funds Ready To Go Along With Detroit Bankruptcy
By Nathan Bomey and Matt Helms, Detroit Free Press |
An attorney for the hedge funds told Judge
The development would remove one of the last remaining significant hurdles from an amicable resolution of
"Certainly by Friday we should be able to (say to) the court that we will not be maintaining any objections to the plan," he said this morning in court.
Terms of the complex agreement were included in a court filing, but it was not immediately clear how much the deal was worth to the hedge funds.
The hedge funds acquired more than 90% of the
They disclosed their distressed debt acquisition in a court filing in July. Panning
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Wordcount: | 298 |
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