Bankruptcy saves city, but leaves scars

Published Updated 6 Min Read

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Central Falls, R.I. | Monday, Sep. 3, 2012 8:06 p.m. (Reuters) — Central Falls, in Rhode Island, is close to emerging from bankruptcy with a plan that hammers its retired municipal employees but leaves bondholders unscathed, in a contrast with other recent U.S. municipal bankruptcies.


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