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Statement From Detroit Regional Chamber CEO on Federal Court Ruling on Detroit Bankruptcy

DETROIT, December 3, 2013Today, Detroit Regional Chamber President and CEO Sandy K. Baruah issued the following statement on the Detroit bankruptcy ruling:

“I am not surprised, but relieved, of Judge Rhodes’ decision today. This now clears the way not only for the bankruptcy proceeding, but also the critical process of reforming city government structures and processes. Bankruptcy is not the ultimate goal. Bankruptcy is a tool to reform and restructure government service delivery in a cost-effective manner that works for the citizens and businesses of Detroit. 

I also appreciate the Judge’s apparent admonition to tread carefully regarding pension obligations. While bankruptcy always involves difficult and painful choices, it is important to remember that pension obligations impact real people in a very real way.”