| 24.07.2013 Opalesque Exclusive: Distressed debt funds look at Detroit, Miami for opportunities |
| Bailey McCann, Opalesque New York:
Detroit, Michigan is 312 years old. A quick scan of birthday etiquette rules on what to get for such an age won’t yield much, but I’m betting Emily Post wouldn’t have recommended bankruptcy. Yet, that’s exactly what the city will be getting for its birthday this year. Detroit made history when it filed for the largest municipal bankruptcy so far, at the |