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Justice Detroit bankruptcy: Creditors fare worse than city retirees in new proposal (+video)

The Detroit bankruptcy plan, filed in federal court Friday, proposes slashing $18 billion in debt, while still maintaining vital emergency services and making investments in the embattled city.

By Staff writer / February 21, 2014

Carlos Osorio/AP/File

Emergency management officials for Detroit took a key step in the city’s historic bankruptcy case by filing a 120-page plan, outlining a financial reorganization, in federal court Friday.