Difficult Rebirth of DetroitJuly 17, 2014 – In The News
Michael A. Sweet was quoted in the Le Monde article, "Difficult Rebirth of Detroit.” Full text can be found in the July 17, 2014, issue, but a synopsis is below.
Detroit is a shrinking city. The city filed for bankruptcy last July and has accumulated $18 billion in debt as it continues to see its population decline.
“Detroit is the largest American city to enter Chapter 9,” said Michael Sweet.
A federal judge is set to decide in August whether the city’s latest proposed deal is acceptable.
“There will be negotiations until the last minute,” said Sweet.