Deadline passes in bankruptcy creditor vote - ABC 12 – WJRT – Flint, MI

Deadline passes in bankruptcy creditor vote

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DETROIT (AP) - The deadline has passed for thousands of creditors to vote on emergency manager Kevyn Orr's bankruptcy restructuring plan for Detroit.

Ballots had to be received no later than 5 p.m. EDT Friday by a consulting company in California to be counted.

Orr spokesman Bill Nowling said Friday that the city will "tabulate and check the results." An affidavit on the results is expected to be filed July 21 in bankruptcy court.

About 32,000 retirees, current and former city workers were asked to vote "yes" or "no" on a proposal to cut pensions for non-uniformed retirees by 4.5 percent and erase cost-of-living allowances. The proposal also eliminates some cost-of-living payments for retired police and firefighters.

More "no" votes could result in deeper pension cuts.

The city's bankruptcy trial starts next month.

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