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Detroit filing for bankruptcy had significant implications for people beyond the residents of the city. There were consequences for pension beneficiaries and bondholders that call into question the laws that protect pension and bond creditors during municipality financial distress. The future of municipal governance actually would be brighter if pensions and government obligation bonds can be restructured, at least a little, in bankruptcy.
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Detroit, Pension Bond, Creditors, David Arthur Skeel, Issue Brief, Penn Law
Skeel, David A., "The Education of Detroit’s Pension and Bond Creditors" (2014). Penn Wharton Public Policy Initiative. 24.