Detroit Says $120M Barclays Financing For Public Services

Law360, Los Angeles (March 6, 2014, 11:02 PM EST) -- The city of Detroit sought approval from a Michigan bankruptcy court Thursday for $120 million in new financing from Barclays Capital Inc. to use for public service upgrades as the city strives to exit bankruptcy, according to court filings.

Detroit's new deal with London-based Barclays will fund "quality of life" upgrades such as improvements to the city's police and fire departments, improvements to tax collection services and repairs to city buses, Bill Nowling, a spokesman for Detroit Emergency Manager Kevyn Orr, said in an email....
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