DETROIT - Sources have confirmed with Local 4 that the Detroit plan of adjustment has been overwhelmingly approved by active workers and retirees.
The deadline was 5 p.m. EDT Friday for thousands of creditors to vote on emergency manager Kevyn Orr's bankruptcy restructuring plan for Detroit.
Ballots had to be received by a consulting company in California to be counted.
Orr spokesman Bill Nowling said Friday that the city will "tabulate and check the results." An affidavit on the results is expected to be filed July 21 in bankruptcy court.
Orr issued the following statement after the ballots were submitted:
"As voting has come to a close on the Plan of Adjustment, the City will now tabulate and check the results. Once that process is completed, the City's vote administrator will prepare an affidavit that will be filed with U.S. Bankruptcy Court for the Eastern District of Michigan attesting to the voting results by creditor classes. The City expects that affidavit to be filed on July 21, which is the date the court has stipulated that the voting results be submitted."
About 32,000 retirees, current and former city workers were asked to vote "yes" or "no" on a proposal to cut pensions for non-uniformed retirees by 4.5 percent and erase cost-of-living allowances. The proposal also eliminates some cost-of-living payments for retired police and firefighters.
More "no" votes could have resulted in deeper pension cuts.
The city's bankruptcy trial starts next month.
Special section: Detroit bankruptcy
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