April 25 A committee created by a U.S.
bankruptcy court to represent Detroit's retired workers said on
Friday it reached an agreement in principal with the city over
pensions and healthcare.
The agreement, subject to documentation, would permit the
committee to support Detroit's plan to adjust $18 billion of
debt and exit the biggest municipal bankruptcy in U.S. history,
according to a statement issued by Dentons, the committee's law
"The deal, which includes significant protections and
potential enhancements for retirees under the city's plan, a cap
on maximum pension losses to individual retirees and
significantly greater funding for retiree healthcare benefits,
reflects the significant efforts of the nine-member committee
and its professionals," the statement said.
(Reporting By Karen Pierog; Editing by David Gregorio)