[ontap]

Buckfire, a Detroit native and investment banker with restructuring experience, later told the court the city plans to pay unsecured creditors, including the city’s pensioners, 16 cents on the dollar. There are about 23,500 city retirees.

This is at least a partial answer...although the city employees through their unions pretty much caused the problems so they should be the ones to bear most of the burden!!

[C. Edmund Wright]

although the city employees through their unions pretty much caused the problems so they should be the ones to bear most of the burden!!

YES.....doodle pay attention to my man here....

[DoodleDawg]

This is at least a partial answer...although the city employees through their unions pretty much caused the problems so they should be the ones to bear most of the burden!!

Was it them or the incompetents who ran the city? In any case you can say all the creditors aided and abetted. So all should pay the price. Even the secured creditors.