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Detroit reaches settlement with key creditor in bankruptcy case
Detroit reaches settlement with key creditor in bankruptcy case

A key opponent of Detroit's plan to reduce its debt has reached a final settlement with the city, a significant step that could allow the municipality to emerge from bankruptcy protection. In a court filing Monday, lawyers for Syncora Holdings Ltd.'s Syncora Guarantee Inc. said the company had reached “a comprehensive settlement” to end its objection to the city's debt-cutting plan.  Proceedings in the Chapter 9 case were adjourned last week when Syncora, a bond insurer, and Detroit announced they had reached a tentative settlement and needed more time to complete their negotiations. Final details of the settlement are expected to be announced in court...

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