Syncora Guarantee said in a court filing that the plan put together by state-appointed emergency manager Kevyn Orr and attorneys hired by the city is unfair.
Toyota has pledged $1 million toward the Detroit Institute of Arts’ goal to raise $100 million to prevent the sale of art in Detroit’s bankruptcy and help city pensioners.
The city of Detroit promised to report the results of voting on pension cuts Monday but declined to disclose the numbers during a morning bankruptcy hearing.
More than 30,000 retirees and current and former workers were eligible to vote on pension changes.
“I think it’s appropriate for me, when this does come to an end, to exit quietly…”
The pledges bring the Detroit Institute of Arts to almost 80 percent of its grand bargain goal.
A major announcement is expected in a deal that promises millions of dollars to support municipal retiree pensions while protecting city-owned artwork from possible sale as part of Detroit’s bankruptcy.
Dozens of people will have five minutes each to object to Detroit’s plan to get out of bankruptcy.
“This judge wants everybody in Detroit that has an objection to the city’s plan to get out of bankruptcy come to court and prove the case,” WWJ’s Charlie Langton said.
Judge Nancy Edmunds ordered Derrick Miller to pay $200 a month until he’s paid back $240,000 dollars.