US, Bond Insurers Fight Detroit Bankruptcy Plan

Law360, New York (May 13, 2014, 6:09 PM EDT) -- Detroit was hit with an onslaught of last-minute objections to its proposed bankruptcy exit plan Monday, with challenges coming in from the federal government and a string of municipal bond insurers in the final hours before a court-imposed objection deadline.

In its objection, the U.S. government contended that the city had not responded to its request that the plan contain language assuring compliance with certain regulations overseen by the U.S. Environmental Protection Agency.

The government also took issue with a $90 million secured claim the plan...
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