Detroit emergency manager to creditors: City defaulting on $2.5 billion in unsecured debt

  • Article by: COREY WILLIAMS , Associated Press
  • Updated: June 14, 2013 - 5:20 PM

ROMULUS, Mich. — A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.

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