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DYD B-11
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If Rhodes allows Detroit's bankruptcy petition to proceedwithout interference from the state courts, the city still must prove that it is insolvent and that it made a good-faitheffort to negotiate with creditors, including its employeepension funds. Detroit has more than $18 billion of debt andunfunded liabilities. That includes $5.7 billion in liabilitiesfor healthcare and other retiree benefits and a $3.5 billionpension liability. |
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