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Draft of Detroit Bankruptcy Settlement Said to Favor Pension Funds
The Wall Street Journal; subscription may be required 
Jan. 31, 2014
"The plan's balance-sheet projections show the base scenario designed by the city calls for $4.2 billion to be divvied up among the city's unsecured creditors, including some bondholders and the city's pension funds. The pot of money would be divided to allow Detroit's two municipal pension funds to recover more than 40% of the money the city says they are owed. In contrast, less than 20% of the money owed to unsecured bondholders would be paid."
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