Detroit’s historic bankruptcy trial resumed as the key bankruptcy creditor reached a tentative deal to settle the debt for 26 cents on the dollar. This deal is expected to redirect the course of Detroit’s economic state. The city’s plan is to reduce debts and reconcile bankruptcy protection. Learn more about the progression of the trial…

A joint court filing Tuesday evening said Detroit and the bond insurer Syncora Guarantee “have reached an agreement in principle” to settle the company’s $400 million claim in the nation’s largest-ever municipal bankruptcy case.

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