July 21, 2014 / 4:22 PM / 3 years ago

Expert witness report says Detroit bankruptcy plan is feasible

July 21 (Reuters) - Detroit’s plan to adjust $18 billion of debt and exit the biggest municipal bankruptcy in U.S. history is feasible, according to an expert witness report obtained by Reuters on Monday.

Martha Kopacz, a senior managing director at Phoenix Management Services in Boston, who was chosen by U.S. Bankruptcy Judge Steven Rhodes in April as an expert witness in the historic case, also concluded in her report that the plan’s revenue, expense and payment assumptions are reasonable.

Reporting By Karen Pierog and Lisa Lambert; Editing by Meredith Mazzilli

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below