DETROIT -- A plan to get the city of Detroit through and out of bankruptcy is expected to be filed before a court-imposed deadline.
A spokesman for state-appointed emergency manager Kevyn Orr has said the plan will be filed in federal bankruptcy court Friday, though the deadline for filing is March 1.
Contact information ( * required )
The plan will spell out how those receiving city pensions, retirees, banks, bond insurers and other creditors will fare under Orr's efforts to trim down Detroit's $18 billion debt.
A draft given last month to creditors showed retirees and pensioners getting $4.3 billion and bondholders about $1.1 billion over 40 years, leaving the city with a nearly $336 million surplus.
The plan will be accompanied by a statement outlining reinvestment in Detroit, including municipal services, during the next 10 years.