Detroit: Bankruptcy vote to be revealed next week
Tue, 15 Jul 2014 11:21:52 GMT —
Detroit says it's on track to publicly disclose voting results in the city's bankruptcy case next Monday.
Attorney Heather Lennox says it won't be sooner because "tabulation is a little complicated." She responded to a question Monday from Judge Steven Rhodes.
More than 30,000 city retirees and current and former workers were eligible to vote on pension changes. Their approval would trigger a bailout, valued at $816 million, from the state of Michigan, foundations and the Detroit Institute of Arts.
That money would prevent the sale of art and avert larger pension cuts. Approval or defeat will be part of a trial next month on Detroit's bankruptcy exit plan.
The size of each retiree's claim has a role in how the votes are counted. Voting ended Friday.