Meanwhile, holders of pension certificate debt have been dealt a pretty dismal hand. Under the plan, creditors could end up receiving between 0% and 10% of the money owed them. Unsurprisingly, the bond insurers and hedge funds that control the more than $1 billion debt in question are fiercely fighting the proposal.A 90% hit! It's not like we didn't warn you of "investing" in muni debt.
Wednesday, July 23, 2014
Fortune reports that those who lent money to Detroit might take the "biggest hit" in the bankruptcy deal:
Posted by Steve Bartin at 6:47 PM