ALERT: City of Detroit Files Bankruptcy/ Pension Funds File Suit to Stop It

18 Jul

The City of Detroit has filed for protection under federal bankruptcy laws today.  In a move to protect their members the General Retirement System of the City of Detroit and the Police and Fire Retirement System of the City of Detroit (the “Retirement Systems”) announced today that they have initiated a civil action against City of Detroit Emergency Manager Kevyn Orr and Governor Rick Snyder in the Ingham County Circuit Court, Lansing, Michigan. 

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