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Continued: Detroit's breakneck speed hastened start of largest US municipal bankruptcy trial this week

  • Article by: COREY WILLIAMS , Associated Press
  • Last update: August 31, 2014 - 9:25 AM

"It has been a very fast-track bankruptcy, which Syncora has no issue with," company attorney James Sprayregen said. "Syncora's issue is the lack of transparency of the process and the unfair treatment of its claims."

Rhodes has scheduled additional hearing dates, if needed, into October. But in the end, Sabino expects Rhodes to approve Detroit's bankruptcy — followed by appeals from creditors.

"You can't unscramble the eggs," said Sabino. "Once the confirmation plan is approved and it starts to roll, you can't undo it. In a matter of months ... there will be anti-climactic legal wrangling and Detroit will be on its way to prosperity."

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