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  1. #1

    Default Is there a synopsis of Kevyn Orr's Fourth Amended Plan

    This week Kevyn Orr his fourth amended plan for the city's bankruptcy on the city's website. It is easy to access. However,
    it is 301 pages in length and accompanied by a 711 page disclosure statement. I have paged through those documents.
    The Detroit News has a summary of the pensions issue but
    less coverage of OPEB debts. I infer that holders of secured
    bonds will be paid in full but holders of unsecured bonds will
    get 20 cents on the dollar. Is there any clear synopsis of
    this fourth amended plan? Thanks

  2. #2

    Default

    http://www.detroitmi.gov/EmergencyMa...yChapter9.aspx

    if these were posted as text it might be easier to compare any changes.

  3. #3

    Default

    Quote Originally Posted by renf View Post
    This week Kevyn Orr his fourth amended plan for the city's bankruptcy on the city's website. It is easy to access. However,
    it is 301 pages in length and accompanied by a 711 page disclosure statement. I have paged through those documents.
    The Detroit News has a summary of the pensions issue but
    less coverage of OPEB debts. I infer that holders of secured
    bonds will be paid in full but holders of unsecured bonds will
    get 20 cents on the dollar. Is there any clear synopsis of
    this fourth amended plan? Thanks
    I'd love to see a simple chart that states:

    [[1) Outstanding debt by category [[2) Proposed adjusted debt based upon plan [[3) total savings

    I believe employee HC is a $4.3B liability and the proposal calls for putting $435MM in a VEBA to shed the obligation. So there is a reduction of $3.9BB in liabilities. A similar breakdown of the remaining $14BB would be nice

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