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Partner Craig Barbarosh Comments on Detroit Pension Referendum in The New York Times

Firm News | July 10, 2014

Craig Barbarosh, a partner in the Insolvency and Restructuring practice, spoke with The New York Times regarding the vote in Detroit on pension cuts. Constituents of the bankrupt city are being asked to agree to designated benefit reductions in order to avoid deeper pension cuts and save the Detroit Institute of Arts' collection from the auction block. With ballots due Friday, July 11, Detroit's emergency manager inserted letters into ballot packages encouraging a "yes" vote on the reductions. Craig, who represents some of the city's creditors, explained that "This is not the typical situation. I've never seen a case like this where there's this active a campaign to solicit votes." ("Campaign Atmosphere Amid Detroit Vote on Debt Plan," July 9, 2014)

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