Chapter 9

Is Detroit Obliged to Fulfill Its Pension Promises?

Posted on 07/25/2013 by | General News | Comments

Bulletin Today | Money & SavingsBy David A. Lieb of The Associated Press As the once-proud city of Detroit humbles itself in bankruptcy court, its financial future may hinge on this key question: Is the city obliged to its past? Or can Detroit renege on its promises to thousands of retirees for the sake of its present city services? The legal question at the heart of Detroit’s bankruptcy filing has never definitively been answered by the nation’s highest courts. But it could become increasingly important …