Nathan Hurst / The Detroit NewsDETROIT -- Greektown Casino and a consortium of creditors have signed a pact that will effectively allow the casino to pave its own path out of Chapter 11 protections before February, court documents filed late Friday show.
Dubbed a "co-exclusivity" agreement, the motion approved by Judge Walter Shapero will allow only two parties to file bankruptcy exit plans to the court before Feb. 1: the casino itself and a consortium of six creditors which includes the city of Detroit and the Michigan Gaming Control Board.
Both parties have the right to refuse the other's plan, and in doing so would end the exclusivity.
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