Detroit Tries To Block Creditor From Accessing Retirees' Financial Information

(Detroit, MI) -- Attorneys for the city of Detroit want to block a creditor's request for the personal financial information of 20-thousand retired city employees. Syncora Guarantee lawyers say they want the information to determine the extent of the city's knowledge regarding the financial position of their retirees. Syncora stands to lose hundreds of millions of dollars if the city is able to set aside a pension debt deal linked to pushing Detroit into bankruptcy. U.S. Bankruptcy Judge Steven Rhodes will hold a hearing on the matter June 26th.