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The Detroit Institute of Arts in Midtown Detroit, Michigan.
Sept. 11 (Bloomberg) — The fate of Detroit’s watershed settlement with Syncora Guarantee Inc. may hinge on whether the bond insurer can win concessions from other creditors, including Bank of America Corp. and retired city workers.

The agreement, announced in a court filing Sept. 9, would remove a big obstacle from Detroit’s path to resolving its record municipal bankruptcy and cutting more than $7 billion in debt. The deal with Syncora also leaves fellow bond insurer Financial Guaranty Insurance Co. as the only major creditor opposed to Detroit’s program.


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