Judge postpones hearing over Detroit swaps deal

09/24/2013 | Reuters

Bankruptcy Court Judge Stephen Rhodes agreed to delay a hearing over ending interest-rate swap deals between Detroit and banks after the city asked the court for more time to negotiate with creditors. "That tells me that the mediation has got the parties' attention and they're taking it seriously, and it may have the desired effect by narrowing the areas of contention," said Douglas Bernstein of Plunkett Cooney. "That's a good thing."

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