Bankrupt Detroit Reaches Deal with Two Key Banks

March 4, 2014 – In The News

Michael Sweet was quoted in the article, "Bankrupt Detroit Reaches Deal with Two Key Banks." Full text can be found in the March 4, 2014, issue, but a synopsis is noted below.

Detroit has reached a deal with two banks that could save taxpayers $201 million and put pressure on other creditors to accept cuts, if the deal is approved by U.S. Bankruptcy Judge Steven Rhodes.

"I think there's one thing we can say with certainty is there's no guarantee Judge Rhodes will do anything," said Michael Sweet. "Judge Rhodes is going to scrutinize any deal people put in front him."