Brightbridge Wealth Management Headlines : Michigan Plans Detroit Finance Review in Step Toward Takeover
posted by maxaaron12 204 days ago under brightbridge wealth management, brightbridge wealth management zurich, brightbridge wealth management headlines -michiga
Detroit’s finances will be given a preliminary review by state officials starting Dec. 6, Michigan Treasurer Andy Dillon said, in what may be the first step toward the appointment of an emergency manager.
The 18th-largest U.S. city may face $400 million in penalties if an emergency manager is put in charge, because of swap agreements made with two banks that helped Detroit borrow money in 2009, according to Ted Damutz, senior credit officer for Moody’s Investors Service in Chicago. Dillon is aware of the potential penalty, Terry Stanton, spokesman for the state treasury department, said by e-mail. He said the financial review is only a first step in a process that may lead to state intervention. » Brightbridge Wealth Management Headlines : Michigan Plans Detroit Finance Review in Step Toward Takeover |
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