Deadline approaching in Detroit bankruptcy creditor vote - New York News

Deadline approaching in Detroit bankruptcy creditor vote

Posted: Updated:
DETROIT (AP) -- The deadline is fast-approaching for thousands of creditors voting on state-emergency manager Kevyn Orr's bankruptcy restructuring plan for Detroit.

Ballots must be received by a consulting company in California by 5 p.m. EDT Friday or they won't be counted.

Orr spokesman Bill Nowling has said voting results are not expected until next week or later, and that the results will be announced in bankruptcy court.

About 32,000 retirees, current and former city workers are being asked to vote "yes" or "no" on a proposal to cut pensions for non-uniformed retirees by 4.5 percent and erase cost-of-living allowances. The proposal also eliminates some cost-of-living payments for retired police and firefighters.

Voting "no" could result in deeper cuts to pensions.

The city's bankruptcy trial is to start next month.

  • Local NewsLocal NewsMore>>

  • VP Joe Biden speaks in Detroit on Labor Day

    VP Joe Biden speaks in Detroit on Labor Day

    Monday, September 1 2014 1:18 PM EDT2014-09-01 17:18:46 GMT
    This is the second time vice president Joe Biden has been in Detroit on Labor Day in the past three years.
    This is the second time vice president Joe Biden has been in Detroit on Labor Day in the past three years.
  • RECALL: Kraft American Singles Cheese Slices

    RECALL: Kraft American Singles Cheese Slices

    Monday, September 1 2014 8:05 AM EDT2014-09-01 12:05:15 GMT
    Kraft voluntarily recalled 7,691 cases of its American Singles cheese product Friday because an ingredient was stored improperly by a supplier.
    Kraft voluntarily recalled 7,691 cases of its American Singles cheese product Friday because an ingredient was stored improperly by a supplier.
  • Minimum wage hike launches this Labor Day

    Minimum wage hike launches this Labor Day

    Monday, September 1 2014 7:30 AM EDT2014-09-01 11:30:54 GMT
    Minimum wage workers across metro Detroit and the rest of the state are getting a small raise this Labor Day.
    Minimum wage workers across metro Detroit and the rest of the state are getting a small raise this Labor Day.
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Homeowner interrupting burglary is fatally stabbed

    Homeowner interrupting burglary is fatally stabbed

    Monday, September 1 2014 2:35 PM EDT2014-09-01 18:35:46 GMT
    A 67-year-old homeowner was stabbed to death and his wife injured after they came upon a burglary at their Staten Island home.
    Police in New York City say an intruder stabbed a couple who interrupted a burglary at their home, killing the man and injuring his wife.
  • New MTA bus routes take effect

    New MTA bus routes take effect

    Monday, September 1 2014 1:09 PM EDT2014-09-01 17:09:54 GMT
    MTAMTA
    The MTA has new bus routes throughout the 5 boroughs. 
    The MTA has new bus routes throughout the 5 boroughs. 
  • Suspect, rookie officer both wounded in gunfire

    Suspect, rookie officer both wounded in gunfire

    Sunday, August 31 2014 10:11 PM EDT2014-09-01 02:11:38 GMT
    Authorities say an early morning gunfire exchange on a Brooklyn street has left the suspect hospitalized and a police officer with a graze wound.
    Authorities say an early morning gunfire exchange on a Brooklyn street has left the suspect hospitalized and a police officer with a graze wound.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices