Detroit averted 'payless payday' before bankruptcy filing, analyst says | Crain's Detroit Business:"To avoid running out of money for basic services, the city moved cash around, canceled payments to its pension funds and defaulted on debt in the months before it filed for bankruptcy, Gaurav Malhotra, a partner at Ernst & Young LLP, testified Wednesday in Detroit.
These actions were designed "to ensure that the city did not have a payless payday," "
No comments:
Post a Comment