Creditor votes on Detroit bankruptcy plan due Friday

DETROIT (WXYZ) - This Friday, July 11 is the deadline for all creditors including city employees to return their votes on Detroit's Plan of Adjustment in Bankruptcy. 

Twenty-three thousand retirees and 9,000 active employees are voting on pension reductions and reduced health care coverage. If a majority votes no, that would eliminate the "grand bargain" that reduces pension cuts and saves the collection at the Detroit Institute of Arts from being sold. 

A Bankruptcy Court hearing is set for July 14. The vote counts have to be submitted to the court no later than July 21 for certification. 

The 6th Circuit Court of Appeals in Cincinnati has also set July 30 as a hearing on the appeal of Detroit's Bankruptcy case. 

The trial on Confirmation of the Plan of Adjustment is set to start in Detroit August 14.

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