Surviving bankruptcy, the GLWA assumes operations of Detroit Water and Sewage

The Detroit Water and Sewage Department has taken their final step in allowing the Great Lakes Water Authority to assume its operations. WJR’s Chris Renwick reported: Officials at the Water and Sewage Department got bondholder consent to transfer their debt from DWSD to the Great Lakes Water Authority this week. It was the last major hurdle for the authority to take over the departments operations and debt. Chief Financial Officer for the Detroit Water and Sewage Department as well as interim CFO and treasurer for the Great Lakes Water Authority, Nicolette Bateson, said Detroit got passed the required 51% threshold of bondholders consenting to the transfer of more than $4-billion of debt to the Great Lakes Water Authority. Operations are scheduled to resume on January 1, 2016.