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Detroit To Halt Debt Payments As Part Of Restructuring

By Maria Chutchian (June 14, 2013, 5:26 PM EDT) -- Detroit will stop making payments on some of its staggering $17 billion debt and is asking creditors to swallow huge losses in an effort to restructure the city's financial system, according to a report from Detroit's emergency financial manager Kevyn Orr....

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