March 26 (Bloomberg) — Detroit, preparing for a final push to end its record-setting bankruptcy, won another 90 days to decide whether to keep or cancel leases on public buildings it uses, including a group of mini-police stations.

City officials today won the extended deadline from U.S. Bankruptcy Judge Steven Rhodes in Detroit. The city leases eight police-related buildings, including four mini-stations, as well as other locations. It asked to have until July 2 to decide on the leases.

Detroit will ask the judge April 14 to let it seek votes from retirees, bondholders and other creditors on a debt- reduction plan filed last month by emergency manager Kevyn Orr. That plan would reduce pensions to police officers, firefighters and other city employees and cut payments to bondholders.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.